USDJPY is facing 101.20 support again, a breakdown below this level will signal resumption of the downtrend from 103.76, then the following downward movement could bring price to 98.00 zone.
Resistance is at 101.95, only break above this level will indicate that lengthier consolidation of the downtrend is underway, then further rise to 102.50 area could be seen.
Content curiosity of FOREXCycle
Editor’s Note: Equity investors/traders can use the Currency Shares Japanese Yen Trust (FXY, quote) ETF to take positions in the yen without a FOREX account. The ETF looks to track the price of the Japanese Yen, minus ETF fee. The fund seeks to reflect the price of the Japanese yen with the shares representing a cost-effective investment relative to investing in the FOREX market.
You must be logged in to post a comment.