The USD/JPY
had found a good support zone around the 114.00 level, where the 55 day EMA is
close by. A few days back we noticed that the highs of the daily candles have
been lower than the previous ones, showing us that the bearish pressure was
accumulating. During today’s session, the USD/JPY breaks the 114.00 level and
accelerates its bearish momentum. At the moment, the 113.00 level could act as
a temporary support, but it seems like it wants to go and visit the 112.00
level. Below the 112.00 level, the next support area could be the 109.00 zone,
where we can also find the 200 day EMA. In case of a bullish pullback, the same
114.00 level could become resistance.
Well spotted! I'll keep it in mind.
ReplyDeleteIt found some support at 112.56.
ReplyDeleteI think it will continue falling.
ReplyDeleteUpward correction might continue.
ReplyDeleteGreat take on markets!
ReplyDeleteExcellent Analysis! Thanks.
ReplyDeleteVery helpful article.
ReplyDeleteExcellent analysis!
ReplyDeleteInformative post.
ReplyDelete