USD/JPY broke above the falling trend line on the 4-hour chart, suggesting that the short term downtrend from 114.73 is complete. Another rise to test 114.73 resistance would likely be seen in the coming days.
USD/JPY broke above the falling trend line on the 4-hour chart, suggesting that the short term downtrend from 114.73 is complete. Another rise to test 114.73 resistance would likely be seen in the coming days. A breakout of this level could trigger further bullish movement towards 115.50. Near term support is at 112.95, below this level could bring to 112.65 area, followed by 111.65.
Futures, options, stocks, ETFs and over the counter foreign exchange products may involve substantial risk and may not be suitable for all investors. Leverage can work against you as well as for you. You should therefore carefully consider your investment experience as well as financial condition before deciding if trading is suitable for you.
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