On Thursday, the USD/JPY currency pair exceeded the weekly R1 located at 106.17.
It is likely that now the pair could gain support from the given pivot point and the 55-hour SMA near 106.01. Thus, some upside potential could prevail in the market within the following trading session.
Meanwhile, note that the exchange rate could face the resistance level formed by the Fibo 38.20% and the weekly R2 near 106.85. If the predetermined level holds, the rate could bounce off to the south.
Written by Admin
Install your trader software at VPS server of one of the super fast providers:
Do you want to have such profits and charts? Choose our Megastorm EA for trading in the Forex market...
While the number of Americans struggling to put food on the table and pay bills ...
10'000 HoursThere are probably a ton of people who got unemployment who rushed to file ...
Federal Reserve Chairman Jerome PowellKevin Lamarque | ReutersDespite what he sees as a rapidly recovering ...