Black Pipper

Forex Dreamers

USD/JPY: Bulls are waiting for sustainable exercise over 106.00, 100-hour SMA

A sustained movement over the resistance clears the way to 106.25, 106.70/75, 107.00 and 107.30/35. The technical indicators have started to show positive momentum on the 1-hour chart, but the 4-hour/day chart signals that one should not take too large a position. Support is in the middle of 105.00, followed by the 105.30/25, the psychological mark of 105.00 and the multi-year low of 104.50/45.

Technical Levels

S1 105.50
S2 105.25
S3 104.92

R1 106.09
R2 106.42
R3 106.67

 

 

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