USD/JPY Analysis - page 58
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The USD is moving up strongly against the Yen. First res 107.70.
I think it's pulling back from 107.50, the pair is range-bound for the moment.
USDJPY must hold above 107.30 for a recovery to 107.45/49 before a selling opportunity at 107.80/90. Try shorts with stops above 108.10. This is a small risk trade but a break higher is a buy signal. Reverse in to a long targeting 108.40/45, 108.75/80 &
108.95/109.00 for profit taking. Try shorts at 109.15/25 with stops above 109.60.
Holding below 107.00 targets support at 106.60/55, which could hold initially for a bounce to 107.00. On further losses look for 106.20, perhaps as far as 105.85/80.
The USD/JPY pair pushed higher today and marked intraday high at 107.52.Currently the pair is trading around 107.40 but despite the gravitation above 107.00, the pair remains in a steady consolidative phase .
Daily Forecast - 20 April 2018
USDJPY must hold above 107.30 for a recovery to 107.45/49 ( we topped exactly here) before a selling opportunity at 107.80/90. Try shorts with stops above 108.10. This is a small risk trade but a break higher is a buy signal. Reverse in to a long targeting 108.40/45, 108.75/80 & 108.95/109.00 for profit taking. Try shorts at 109.15/25 with stops above 109.60.
Holding below 107.00 targets support at 106.60/55, which could hold initially for a bounce to 107.00. On further losses look for 106.20, perhaps as far as 105.85/80.