Forex Forum to Share, Discuss, Communicate and Trade Forex

USDJPY: Remains Vulnerable But With Caution

Discuss Technical Analysis for various currency pairs and share your views. You may also like to check our Forex technical analysis and Forex forecast sections.
Image

USDJPY: Remains Vulnerable But With Caution

Postby FXTechstrategy » Mon Mar 06, 2017 12:03 pm

USDJPY: The pair still faces downside pressure though closing higher the past week. On the downside, support comes in at the 114.00 level where a break if seen will aim at the 113.50 level. A cut through here will turn focus to the 113.00 level and possibly lower towards the 112.50 level. Its daily RSI is bearish and pointing lower suggesting further weakness. On the upside, resistance resides at the 114.50 level. Further out, we envisage a possible move towards the 115.00 level. Further out, resistance resides at the 115.50 level with a turn above here aiming at the 116.00 level. On the whole, USDJPY looks to weaken in the nearer term.

Image
FXTechstrategy
 
Posts: 256
Joined: Sat May 14, 2016 4:52 pm

Return to 2+1 = 3 - Technical Analysis Discussions

 

Who is online on Forum

Registered users: Baidu [Spider], Bing [Bot], Google [Bot], Joy Bahadur, l3imadi, Yahoo [Bot]