Morning traders
usdjpy tested pivotal level of 100 and also probed the multi year trend support after Brexit in June this year. Since then it has been undergoing a steady up move and it has also met the projected target for a double bottom formation.
This pair is now closing in on a multi month descending trend near 119.50 which also happens to be the 76.4% retracement of the whole down move since June 2015.
116.70/50 will be an intermediate support while the 20 day MA at 114.70 will be important. In the event of persistent bullish momentum next key hurdle will be at the multi decade descending trend near 123/125
All the best in the run up to Christmas, don't say your boy don't do nuffin for ya!
usdjpy tested pivotal level of 100 and also probed the multi year trend support after Brexit in June this year. Since then it has been undergoing a steady up move and it has also met the projected target for a double bottom formation.
This pair is now closing in on a multi month descending trend near 119.50 which also happens to be the 76.4% retracement of the whole down move since June 2015.
116.70/50 will be an intermediate support while the 20 day MA at 114.70 will be important. In the event of persistent bullish momentum next key hurdle will be at the multi decade descending trend near 123/125
All the best in the run up to Christmas, don't say your boy don't do nuffin for ya!
Daily