USDJPY is approaching our first support at 113.85 (horizontal overlap support, 23.6%, 50% Fibonacci retracement) where a strong bounce might occur above this level pushing price up to our major resistance at 114.21 (horizontal pullback resistance, 100% Fibonacci extension). Ichimoku cloud is also showing signs of bullish pressure in line with our bullish bias.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
This analysis is provided as general market commentary and does not constitute investment advice. Past performance is not indicative of future results