Technical Analysis

USD/JPY higher for third day, breaks technical resistance level

USD/JPY up 25 pips

Is it month end or something more?

USD/JPY is up for the third day, climbing a steady 25 pips to 113.38. The 61.8% retracement of the October decline was at 113.34 so a close above is a positive step. It’s not the cleanest line because of the messy bottom. If you want to draw it from the mid-October low, it’s at 113.43, which is still about 10 pips away.

ForexLive

Articles You May Like

NZD/USD Price Outlook: Kiwi Rally Approaching Breakout Targets
Scalping strategy daily 300 to 400 pip on trade on 5 pairs
The stakes are suddenly high at this weekend’s OPEC meeting
Forex Trading – The Worlds Top 5 Best Forex Traders – Forex Trading Strategies
Australian employment report due today – preview

Leave a Reply

Your email address will not be published. Required fields are marked *