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Japanese Yen Technical Forecast: USD/JPY Bulls Eye Resistance
The Japanese Yen is off more than 0.3% this week with USD/JPY rallying nearly 3.9% since the start of October. Last month’s reversal off technical support has now extended into a major pivot zone and the focus is on possible price inflection here in the days ahead. Battle lines drawn on the USD/JPY weekly & daily technical charts. Technical Outlook: In my last Japanese Yen Technical Forecast we noted that USD/JPY had rebounded off major support and that, “losses should be limited to the 142-handle IF price is heading higher on this stretch with a close above 144.63 needed to fuel to fuel the next leg.” ... (full story)
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- Posted: Oct 9, 2024 11:49am
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 4,797
