The USD/JPY
is still oscillating around the 55 day exponential moving average, purple line,
around the 105.41 level. From this level the pair may head in any direction,
but the consolidation may act as a continuation pattern or a resting point to
continue going higher. The next resistance on the daily chart may be the 107.00
level or the 109.00 level, but a much important resistance level is the 111.00
zone along with the 200 day EMA, blue line. To the downside we have a support
zone between the 103.00 and the 104.00 level. The 100.00 level continues being
its most important support.
I'll watch those levels, thank you.
ReplyDeleteVery helpful analysis, I will keep it in mind.
ReplyDeleteIt could be at a good turning point.
ReplyDeleteExcellent Analysis! Thanks.
ReplyDeleteGreat analysis!
ReplyDeleteGood post. Very helpful.
ReplyDeleteVery interesting! Thanks!
ReplyDelete