TradersClassroom

USD/JPY Heading Towards New Highs

FX:USDJPY   U.S. Dollar / Japanese Yen
USD/JPY             has broken previous weeks highs and is heading towards previous months highs near 105.40's. With price in the upper 104's and resistance at 105.40's, I'd expect it to get to the 105.40's before finally pulling back a little bit. The pair looks nearly exhausted. RSI is currently near 86. Look for a pullback before more US strength versus the Yen. Happy Trading!


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