The USD/JPY
has not been able to break above the 104.00 level and during the last few days
it has been stuck between the 103.00 level and the 104.00 level. The bullish
trend is still in place and the USD/JPY may try to break above the 104.00 level
and above that level, the pair has an open road all the way to the 107.00
level. The 103.00 level along with the 55 day EMA may act as support, but below
that level, the 102.00 may also act as support. On the daily chart we can see
that the most important support so far has been the 100.00 zone.
Further bullish trend continues if the pair could break above the resistance zone at 104.40/50.
ReplyDeleteThe rally will probably continue next week.
ReplyDeleteLooks like it will keep pushing higher.
ReplyDeleteI think it will reach at least 105.00 - 106.00.
ReplyDeleteInteresting read, thanks!
ReplyDeleteDetailed and useful analysis!
ReplyDeleteThank you for the analysis i'll keep an eye on the currency.
ReplyDeleteVery useful information! Thanks.
ReplyDelete