USDJPY: The pair faces further downside pressure in the short term though seen hesitating during early Monday trading. On the downside, support comes in at the 110.00 level where a break if seen will aim at the 109.50 level. A cut through here will turn focus to the 109.00 level and possibly lower towards the 108.50 level. On the upside, resistance resides at the 111.00 level. Further out, we envisage a possible move towards the 111.50 level. Further out, resistance resides at the 112.00 level with a turn above here aiming at the 112.50 level. On the whole, USDJPY looks vulnerable to the downside.
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.