Participant

The pair is very close to reach the resistance zone between 121.84 and 122.02, the Japanse index (JP225) is moving upwards, so, the USD/JPY price is expected to grow. You can see that we have an important support zone between 118.2 – 118.7, the sellers wasn’t strong enough to push the price below this area. Is important to see how the price will react when will reach the resistance, the question is if we’ll have a breakout or the price will come down to test the suport area (118.2 – 118.7). We have an intraday support at 120,4. The outlook is bullish on this pair, the Us dollar didn’t decline against the Japanese Yen in the last few weeks, we had a sydeways movement.

usdjpy

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