MTrading_Global

USDJPY Re-Tests Trading-Range Support

FX:USDJPY   U.S. Dollar/Japanese Yen
Failure to break 121.30 descending trend-line resistance pulled back the USDJPY             towards its month old trading range (as indicated by symmetrical triangle formation) support, near 119.30. Successful break of which can trigger pair's decline to 118.30 while a bounce can witness 120.60-65 area as intermediate cap prior to targeting upper-line resistance, 121.30. Should it manage to break 121.30, chances of its rally towards 122.00 and 122.50 can't be denied.
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