USDJPY: The pair halted its broader weakness to rally higher on Monday leaving risk higher in the days ahead on correction. On the downside, support comes in at the 102.00 level where a break if seen will aim at the 102.00 level. A cut through here will turn focus to the 101.50 level and possibly lower towards the 101.00 level. On the upside, resistance resides at the 103.00 level. Further out, we envisage a possible move towards the 103.50 level. Further out, resistance resides at the 104.00 level with a turn above here aiming at the 104.50 level. Its daily RSI is bullish and pointing higher suggesting more strength. On the whole, USDJPY looks to strengthen further on correction.
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.