USDJPY broke above 107.90 resistance and extended its upside movement from 104.63 to as high as 109.53, suggesting that the downtrend from 114.73 is complete.
USDJPY broke above 107.90 resistance and extended its upside movement from 104.63 to as high as 109.53, suggesting that the downtrend from 114.73 is complete.
A further rise could be expected after a minor consolidation and the next target would be at the 112.00 area.
Support is at the rising trend line on the daily chart, only a clear break below the trend line support could signal completion of the uptrend.
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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