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USD/JPY: 4 Reasons 120 Is Intriguing
It has been no secret lately that doing anything other than buying Japanese Yen crosses over the past few months has been tantamount to financial suicide. The USD/JPY in particular has surged from around 105 to its current almost-120 level since just mid-October with nary a pause for breath in its advance. However, as we approach the psychologically significant 120 level, there are some reasons that traders may want to look at this level with a certain amount of caution, and here are some of them: 1. Converging Fibonacci Extensions If we look back to mid-November, when the USD/JPY carved out a significant low and ... (full story)
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