Get 40% Off
🤯 Perficient is up a mind-blowing 53%. Our ProPicks AI saw the buying opportunity in March.Read full update

USD/JPY First Resistance At 113.20

Published 03/16/2016, 06:50 AM
Updated 07/09/2023, 06:31 AM

USD/JPY Chart

USD/JPY first resistance at 113.20/25, but above here targets 113.50, perhaps as far as resistance at 113.75/80. If we continue higher look for 114.15/19 then a retest of strong resistance at 114.30/40. Try shorts with stops above 114.60. Just be aware that a break above 114.60 signals a breakout of the 3-week range for a buy signal and targets 114.85/89 then resistance at 115.05/10. We should struggle initially, but further gains eventually target short-term trend line 115.60/65.

Holding below 113.20 re-targets 112.80 then 118.60 before strong support at 112.41/36. If we continue lower look for the important 3-week lows at 112.14. A break below 112.05 is a sell signal.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.