05.10 - USD/JPY extends late-Friday’s bounce
USD/JPY rises to 105.57, up 0.24% intraday, while heading into the European open on Monday. In doing so, the pair keeps its upside break of a falling trend line from August 28. As a result, bulls are geared towards a 200-bar SMA level of 105.67. During the USD/JPY bulls’ further dominance past-105.85, multiple resistances can probe the upside below 106.30, a break of which will attack the previous month’s peak surrounding 106.55.
Alternatively, the resistance-turned-into-support trend line around 105.20 and the 105.00 thresholds offer immediate support during the quote’s U-turn. Though, USD/JPY sellers will be hard to convince unless breaking a broad support area between 104.95 and 104.85 including multiple levels marked since mid-September.
Reprinted from toolstrades，the copyright all reserved by the original author.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.