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Saturday, June 17, 2017

Usd/Jpy: Keep On Going or Retrace ?

It has been a quite bullish moment for the past 2 days for this currency pair. Now traders are keeping their eyes open to watch in between two points that might determine everything.

Those are 110.975 and 110.790. Quite a narrow band...

Shall the price break above 110.975, the currency pair will carry on its bullish moment to hit the next target (resistance) which is at around 111.140.

Otherwise, it will go below 110.790 and prepare to make retracement and will try to reach 110.505.

Shall Usd/Jpy breaks 110.975, there will be an opportunity to open long position for short term period in order to take profit at around 111.140.