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William-trading

Minimal effect of intervention

Long
U.S. Dollar / Japanese Yen (FX_IDC:USDJPY)  
William-trading Updated   
FX_IDC:USDJPY   U.S. Dollar / Japanese Yen
Trend Analysis Chart Patterns Technical Indicators
2
2
trendanalysis chartpattern indicator
The USD/JPY has slip after touching the 160.00 region and it is suspected as an intervention during the trading holiday in Japan. However, the effect was quite minimal as the dollar/yen pair saw bullish strength at 151.972 support.

Going forward, USDJPY may head higher to test the immediate resistance at 151.70 before another round of sell-off occurs. mid to long term wise, we believe USD/JPY may head higher towards 162.71-163.74 resistance zone.
Comment:
USD/JPY rejects near 157.150 as expected and it appears to be a strong selling. Next support at 151.00 will be key.
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