Home USDJPY: Triggers Upside Recovery With Eyes On Further Upside
Forex News Today: Daily Trading News

USDJPY: Triggers Upside Recovery With Eyes On Further Upside

With USDJPY triggering a recovery higher following through on the back of its Friday gains, the risk is for more gains to occur. Further out, resistance resides at the 102.15 level where a breach will turn focus to the 103.00 level.

Further out, resistance is seen at the 103.50 level and then the 104.00 level. Its daily RSI has turned higher supporting this view.

On the other hand, support lies at the 101.32 level where a violation will aim at the 100.75 level where a break will aim at the 100.00 level followed by the 99.00 level and possibly lower towards the 98.50 level..

On the whole, USDJPY remains exposed to the downside but faces corrective recovery higher risk.

ysdjpy

 

Guest post by FX Tech Strategy

FX Tech Strategy

FX Tech Strategy

FX Tech Strategy provides simple forex research for Intra-day, swing and position traders. For over 6 years, FXTechstrategy has been committed to providing forex traders including intra-day, swing and position traders exceptional forex research with technical analysis expertise that makes trading decisions easy and painless. FXTchstrategy won Best Technical Analysis (forex best awards) by fxstreet in 2011 and was finalists, Star Awards by traderplanet in 2011 & 2012.