The USDJPY aims for a test of the last week’s high at 120.30
| Direction | Period | Expected price movement | Price movement corridor |
|---|---|---|---|
| ↓↑ | 1 day | ≈ 90 pips | Max. 121.85
Min. 119.20 |
Slowly, but steadily the US dollar is recovering its positions against the Japanese yen. Growth is taking place amid low volatility and decreased volumes.
Resistance level 120.30 presents the last week’s high and is now standing in the way of further uptrend. Future development depends on how price performs at this level.
The breakout at 120.30 will open the way up to resistance at 120.75.
Alternative scenario: continuing consolidation below 120.30 resistance, followed by the pullback down.
Dear traders, please post your comments to our forecasts and share your own opinion. Your ideas can be very helpful for the newcomers in the forex market. Thank you!
The USDJPY aims for a test of the last week’s high at 120.30
| Direction | Period | Expected price movement | Price movement corridor |
|---|---|---|---|
| ↓↑ | 1 day | ≈ 90 pips | Max. 121.85
Min. 119.20 |
Slowly, but steadily the US dollar is recovering its positions against the Japanese yen. Growth is taking place amid low volatility and decreased volumes.
Resistance level 120.30 presents the last week’s high and is now standing in the way of further uptrend. Future development depends on how price performs at this level.
The breakout at 120.30 will open the way up to resistance at 120.75.
Alternative scenario: continuing consolidation below 120.30 resistance, followed by the pullback down.
Dear traders, please post your comments to our forecasts and share your own opinion. Your ideas can be very helpful for the newcomers in the forex market. Thank you!