USD/JPY, each decline has covered by the bulls!
What to write about this pair? For several times I wrote that on each decline buyers are ready to react strong and it happens agian. The pair touched 118.30 low in Thursday, the previous support from February, where buyers have reacted emediately and pushed the pair back in the same day, all the way to 119.30, to the first stronger resistnace. The pair spend Friday around that level, but start to rise today early in the morning, after Europe opened. What interesting is, that the pair opened the day/week at 119.118 with low od the day in less than one pip 119.110! When US dollar bulls rules! Whell, there is several resistances now in front of them, let’s see could they handle this? 120.30 is the first one, resistance level with two trendlines!