Birmingham , UK

USD/JPY Mid-Day Outlook


Every day Pivots: (S1) 146.09; (P) 146.53; (R1) 147.33; Extra…

USD/JPY’s rally continues and is in proximity to 147.68 long run resistance. Break there’ll goal 149.26 projection, and probably to 150 psychological degree. nonetheless, break of 145.89 help could possibly be a sign that Japan has stepped in for intervention once more, and switch bias again to the draw back for deeper pull again.

Within the greater image, up development from 101.18 remains to be in progress, as a part of the entire up development from 75.56 (2011 low). Additional rise ought to be seen to 147.68 (1998 excessive), and probably to 100% projection of 75.56 (2011 low) to 125.85 (2015 excessive) from 98.97 at 149.26, For now, break of 130.38 help is required to be the primary indication of medium time period topping. In any other case, outlook will keep bullish even in case of deep pull again.

Leave a comment