USDJPY: Recovers, Looks To Strengthen Further

21 February 2017, 12:54
FXTechstrategy
0
20

USDJPY: The pair triggered a recovery higher on Monday and followed through on Tuesday leaving risk further higher. On the downside, support comes in at the 113.00 level where a break if seen will aim at the 112.50 level.  A cut through here will turn focus to the 112.00 level and possibly lower towards the 111.50 level. On the  upside, resistance resides at the 114.00 level. Further out, we envisage a possible move towards the 114.50  level. Further out, resistance resides at the 115.00  level with a turn above here aiming at the 115.50 level. On the whole, USDJPY looks to extend its upside pressure.

 

Share it with friends: