USDJPY: With corrective recovery triggered on Monday, USDJPY looks to extend its corrective recovery. On the downside, support comes in at the 117.00 level where a break if seen will aim at the 116.50 level. A cut through here will turn focus to the 116.00 level and possibly lower towards the 115.50 level. Its daily RSI is bearish and pointing lower supporting this view. On the upside, resistance resides at the 118.00 level where a cap may be occur again. Further out, we envisage a possible move towards its range top at the 118.50 level. Further out, resistance resides at the 119.00 level with a turn above here aiming at the 120.50 level. On the whole, USDJPY looks to extend its corrective recovery in the days ahead.
Get More Power Over Your Trading With Less Hassle
FXTechstrategy delivers powerful buy/sell trade ideas with stop losses, price targets and super-easy analysis to help you improve your results
GET MORE POWER OVER YOUR TRADING WITH LESS HASSLE
The Award-Winning Analysis Solution for Forex & Commoditidy Traders
Your trading, made easier
Get 15+ super-easy trade ideas with powerful daily analysis and easy-to-understand strategy eBook
Stay on top of every move with price action to help you make easier, faster, and more accurate trading decisions.
Whether your strategy is for day trading or swing trading FXTechstrategy analysis fits in seamlessly with no hassles.