HomeContributorsTechnical AnalysisTechnical Resistance for USD/JPY is at 135-138

Technical Resistance for USD/JPY is at 135-138

USDJPY has a gap near 131.20 after the reports that the BoJ can be looking for a new candidate with a dovish outlook. But it appears this was just speculation with no real evidence, so USDJPY bulls quickly slowed down, and now trying to fill the Sunday gap. However, these gaps can act as support once they are filled so there can be another jump to 134.00 or 135 first resistance area before recovery is finished.

Elliott Wave Financial Service
Elliott Wave Financial Servicehttp://www.ew-forecast.com/
Trading forex, futures or futures options carries a high level of risk, and may not be suitable for all investors. The possibility exists that you could lose some or all of your initial investment; therefore you should not invest money that you cannot afford to lose. Our website and the information provided here should not be relied upon as a substitute for extensive independent research before making your investment decisions.

Featured Analysis

Learn Forex Trading

Traits of a Successful Trader

Trading the Higher Timeframes