USD/JPY: Sets Up To Recover Further Higher On Correction

Forex Trades • Sep 3, 2018 at 12:31 PM EDT

The pair still faces price recovery threats as it looks to build up on its Friday price correction. On the downside, support lies at the 111.00 level where a break if seen will aim at the 110.50 level.

USD/JPY: The pair still faces price recovery threats as it looks to build up on its Friday price correction. On the downside, support lies at the 111.00 level where a break if seen will aim at the 110.50 level. A cut through here will turn focus to the 110.00 level and possibly lower towards the 109.50 level. On the upside, resistance resides at the 111.50 level. Further out, we envisage a possible move towards the 112.00 level. Further out, resistance resides at the 112.50 level with a turn above here aiming at the 113.00 level. On the whole, USD/JPY faces further upside pressure on correction.

USDJPY: Sets Up To Recover Further Higher On Correction

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