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USDJPY Buyers Ready to Take on 109.00?
USDJPY bulls aren’t wasting any time this week. The pair has already taken out last weeks high and is currently challenging the October high at 108.93. This follows the pairs 200 pip rally from the 106.80 support area. A move higher from the USDJPY is also something we’ve discussed for several weeks based on the inverse head and shoulders pattern here. But if USDJPY bulls intend to keep this rally alive, they’re going to need to secure a daily close above the 109.00 handle. This is something I discussed in Saturday’s Forex forecast video. Notice how 109.00 served as support on May 13 before flipping to ... (full story)