The USD/JPY
has been rallying steadily and it reaches the 109.00 level where it stalls at
the moment as shown on the daily chart. The 109.00 level may act as resistance
and the price may try to bounce to the downside from there, in such case, a
return to the 106.16 level is possible. The bullish trend is still in place and
if the price continues going higher, then the price may reach the 111.00 level
or even the 112.00 level. For now we are waiting to see if the risk appetite
continues and the Dollar continues rallying versus the Yen.
We may see a pullback before another move upward.
ReplyDeleteImpressive momentum!
ReplyDeleteI guess 111,445 is the next reistance to test.
That is an incredible rally.
ReplyDeleteIt rebounded from 109.70.
ReplyDeleteGood point, will keep it in mind!
ReplyDeleteThat's good to know, thanks.
ReplyDeleteAccurate analysis!
ReplyDeleteIt's testing 111.00 level.
ReplyDelete