USD/JPY, Daily Chart Analysis 7/10

OANDA:USDJPY   U.S. Dollar / Japanese Yen
Implications and Outlook
1. Retest momentum held steady to higher at significant Mean Support 109.550 print on June 19.

2. Price action is continually confirming the value of the intermediate-term bullishness by crossing Key Resistance of 111.050 and approaching inner Currency Rally of 111.500.

3. The violation of the intermediate-term Key Resistance 111.050 will undoubtedly bring severe bullish implications, having upside long to medium-term target - of Currency Rally of 112.770, with downside risk at Mean Support 110.440.

4. Current Currency Strategy Bias: Bullish 80 / Bearish 20


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