HomeContributorsTechnical AnalysisUSDJPY: Eyes Further Upside Pressure In The Short Term

USDJPY: Eyes Further Upside Pressure In The Short Term

USDJPY: The pair remains on the offensive leaving further upside pressure on the cards. Despite its current price hesitation this view remains valid. On the downside, support comes in at the 112.00 level where a break if seen will aim at the 111.50 level. A cut through here will turn focus to the 111.00 level and possibly lower towards the 110.50 level. On the upside, resistance resides at the 113.00 level. Further out, we envisage a possible move towards the 113.30 level. Further out, resistance resides at the 114.00 level with a turn above here aiming at the 114.50 level. On the whole, USDJPY looks to recover further higher.

FXAssure
FXAssurehttps://www.fxassure.com/
Mohammed Isah is a co-founder, technical strategist and head of research at FXAssure.com. He has been trading and analyzing the foreign exchange market for the past 7 years. He formerly traded stocks before crossing over to the forex market where he worked for FXInstructor LLC as a technical analyst and head of research before Joining FXassure.com.

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