Tuesday, March 28, 2017

USD/JPY Below Support

USD/JPY continues to trade to the downside in today's session. The pair registered a low of 110.10 yesterday and is now slightly higher at 110.70. However, main trend on the short-term remains bearish with very limited upside potential.

Bear camp has the advantage of a broken support level at 110.90 and now their first target is seen at 109.10. If we can reach that level, bulls might try to buy the dip.

Should the 109.00 level be broken, bears will have the momentum to continue pushing the pair down to major target at 105.

First support is seen at 109.30, first resistance is seen at 111.60.

Chart: USD/JPY H4


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5 comments:

  1. UnknownMarch 28, 2017 at 12:05 PM

    Seems like it will keep pushing lower.

    ReplyDelete
  2. UnknownMarch 28, 2017 at 3:25 PM

    I'll watch those levels, thank you.

    ReplyDelete
  3. UnknownMarch 28, 2017 at 9:35 PM

    Very helpdul analysis, thank you for sharing!

    ReplyDelete
  4. UnknownMarch 28, 2017 at 10:20 PM

    Very helpful and insightful analysis, excellent.

    ReplyDelete
  5. UnknownMarch 31, 2017 at 11:02 PM

    Excellent information to keep in mind.

    ReplyDelete

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