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Technical Forecast for USD/JPY

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Technical Forecast for USD/JPY

 


USDJPY broke 98.25/20 to reach 97.73. We are now testing resistance at 98.41 but above 98.50 allows a move towards resistance at 98.77/83. This area could hold the topside but if we continue higher look for a target of 99.15/17 before strong resistance at 99.46/51 for a selling opportunity with stops above 99.65.


 


Failure to beat 98.41 sees a drift lower to 98.19 then 98.00/95. Below here risks a retest of yesterday’s low at 97.73 & from here down to very good support at 97.60 offers an excellent buying opportunity with stops below 97.45.

The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

Posted-In: News Forex Global Economics Markets

 

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