USD/JPY, weekly analysis.

mario urlic forex usd-jpy 13.04.

US dollar has find a buyers at 107.60 level last week and in the beginning of the new week in the same level. We could see that this week is in tha favor of the buyers for now in wich they have reached 109.30 today. This is minnor weekly resistance now at 109.30/60, after wich they have a bigger one at the 110.40 level. The strong resistance should begin at the previous support from 110.70, all the way to 111.20. It will be very interesting to see can the buyers reach that level after this huge decline from the last week? In my point of view they will try and they probably could. On the way back down, 107.60 is the place for bigger buyers, bellow that support could be this green trendline toward 105.30/80 level, where the huge players are waiting for possible decline.

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