USD/JPY, stuck in a tight range!

usd-jpy 05.05.

After the pair reached 120.19 on Friday, in the last two days USD/JPY is stuck at the same level on the way up, supported at 119.90/120.00 on the way down. The pair looks bullish today but this level looks like a pretty strong resistance. If US dollar manage to brake this, 120.60/80 could be the next target, on the way down 119.90/120.00 is first support, 119.20/30 next one, strong at 118.30/50. I don’t see this range as a long term, the pair will probably get out somewhere, possibly up, but let’s wait and see!?

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s