USD/JPY, double bottom in weekly chart!

mario urlic forex usd-jpy 25.02.

As I pointed in my USD/JPY monthly chart from February 23., the pair have a strong support at 111.00 and when we take a look in weekly chart, we can see a double bottom at that support. There is still two days in this week, but if the pair close above the 113.40 resistance, the buyers could push the pair stronger toward 116.00. Strong durrable goods orders data is out and it shows improvement much above the expectations, which could give an US dollar aditional strenght now.

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 )

Facebook photo

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

Connecting to %s