USDJPY faces further price recovery higher towards its consolidation range top at 109.72 zone. On the upside, resistance comes in at 110.00 level. Above this level will turn attention to the 110.50 level. Further out, we expect a possible move towards the 111.00 level. A cut through here will open the door for more gain towards the 111.50. Its weekly RSI is bullish and pointing higher suggesting more strength. On the downside, support comes in at the 109.00 level where a break will target the 108.50 level. Below that level will turn focus to the 108.00 level and then lower towards the 107.50 level. On the whole, USDJPY faces further recovery threats in the new week.
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.