USD/JPY on its Way to Long-Term Support
A couple weeks ago we highlighted an area of support below 100.6 which could act as a magnet for USD/JPY so long as it remained under pressure below 102.85. After failing to overcome that resistance last week, USD/JPY now looks determined to test early February lows below 101.
We believe that these lows will not hold but that the support area just below remains a very tempting springboard for bulls and short-term bears looking to cover alike. If that scenario materialises we will revisit appropriate long or short opportunities according to price action.
Edit: There is an error on the chart - "inverted hammer" should read "shooting star".
We believe that these lows will not hold but that the support area just below remains a very tempting springboard for bulls and short-term bears looking to cover alike. If that scenario materialises we will revisit appropriate long or short opportunities according to price action.
Edit: There is an error on the chart - "inverted hammer" should read "shooting star".
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.