USD/JPY is trading 0.01% lower on Friday. The pair has consolidated in a very narrow 67 pip range. USD/JPY 4-hour chart USD/JPY has traded in a very thin range on Friday as volumes remain light to a US holiday. Looking at the chart below it is clear to see the pair is stuck in a rut as it nestles within a 67 pip range. Just looking at the price waves the pair has made consecutive higher low and higher high waves. This could lead to a higher probability of the top of the range to be tested. The 108.00 figure could be a significant resistance zone as it has been rejected a few times in the past. On the downside, the 106.00 level seems to be the main support zone, so if the price does break the bottom of the consolidation that could be the target. Looking at the Fibonacci Retracement levels it seems that the 50% zone was pretty firm. Interestingly higher up the 261.8% extension level matches up very well with the 61.8% retracement zone and if there is a break higher it would be one to watch. Additional levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Cryptocurrency Market News: Visa and PayPal rumors could be the spark needed for Bitcoin to reach $20,000 again FX Street 3 years USD/JPY is trading 0.01% lower on Friday. The pair has consolidated in a very narrow 67 pip range. USD/JPY 4-hour chart USD/JPY has traded in a very thin range on Friday as volumes remain light to a US holiday. Looking at the chart below it is clear to see the pair is stuck in a rut as it nestles within a 67 pip range. Just looking at the price waves the pair has made consecutive higher low and higher high waves. This could lead to a higher probability of the top of the range to be tested. The 108.00 figure… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
