USD/JPY failed to break below 108.13 and rebounded from 108.26. A break above 110.94 key resistance could signal completion of the downside movement from 114.49, then another rise to retest 115.50 resistance could be seen.
USD/JPY failed to break below 108.13 and rebounded from 108.26. A break above 110.94 key resistance could signal completion of the downside movement from 114.49, then another rise to retest 115.50 resistance could be seen. However, as long as 110.94 resistance holds, another fall to test 108.13 support is still possible. A breakdown below this level could take price to 106.50, followed by 103.60.
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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