- USDJPY Stays Range Bound
- R3 Resistance Sits at .9320
- Market Breakouts Signaled Over .9335
USDJPY 30min Chart
In the event that momentum subsides, the USDJPY may produce an environment conducive for a false breakout. This should always be a consideration when volatility wanes and trading for the week comes to a close. A move back below R3 resistance would signal and end of today’s current breakout and suggest a return towards a range bound market. Currently the USDJPY range measures 20 pips, and in the event of a price decline reversal traders should monitor S3 range support at 102.33.
