USD/JPY closed higher, but however bull should defend the 106.00 area. Immediate resistance is seen at 106.60 and the downside remains supported by 105.40.
USD/JPY moved higher today but yet remains capped by last week’s high. Bulls would hardly march towards 107.50 given the neutral indicators on the four hour time frame.
USD/JPY retreated from the fresh 7-week high as US stocks turned negative. The pair is nearing the 107.30 and this might bring it back into the range of the previous sessions between 107.40 and 106.60.
USD/JPY turned to bearish mode today and dropped to 107.05. On the four hour time frame the price is developing above its flat 100-day and 200-day SMAs while stochastic is showing storng bearish momentum. The pair is reparing to test 106.90 wich if broken to below 106.60 will be the next target for the bears.
The USD/JPY pair pushed higher today and marked intraday high at 107.52.Currently the pair is trading around 107.40 but despite the gravitation above 107.00, the pair remains in a steady consolidative phase .
USD/JPY rallied today towards the amazing 108.75. Which is more important is that the pair conquered very significant resistance levels. Indicators on H4 support further advance and next bullish target is seen at 109.00.
USD/JPY retreated from its highest since February level and currently is gravitating around 109.00. I expect further declines towards the support at 108.65.
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