Looking at USDJPY Chart, we can see after reaching the high of 130.75 on the 12th of May it experienced a retraction, falling initially to the 130 level and then dramatically further down to the 128.3 range with 127.5 acting as the support level. Since then, it managed to climb steadily back up towards the 129 range 128.5, and 129 range respectively where it has been trading steadily around it the past few days. It was last found trading at the 129.24 level
Today we can expect a move close to the temporary support level of 128.6 breaking consolidation.
However, if it manages to keep the consolidation level, then a move towards the 130 level can be expected.
(Click on image to enlarge)
Comments
Log in or sign up to join the conversation.