USDJPY moved sideways in a trading range between 104.00 and 107.05. As long as the price is below the falling trend line, the price action could be treated as consolidation for the downtrend from 111.71, and a further decline is still possible.
USDJPY moved sideways in a trading range between 104.00 and 107.05. As long as the price is below the falling trend line on the daily chart, the price action in the range could be treated as consolidation for the downtrend from 111.71, and a further decline to the 103.00 area is still possible. Key resistance is at 107.05, and only a break above this level could signal completion of the downtrend.
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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