Trade Alert
USDJPY continues to run higher. But is it starting to run out of steam? If the pair struggles to overcome the 114.20 barrier, then that could be our first warning. If then, USDJPY retraces and breaks below the short-term upside support line, taken from the low of the 26th of October, this is where it could become worrying for the bulls, which could force them to abandon the field for the time being. This would allow the sellers to pull the pair back down towards the 113.00 level, or even further down.
If USDJPY eventually breaks the 114.20 zone, then this could open the path towards the 114.55 barrier, marked by the highest point of October.
Please review the chart for details.
Always have your SL in place.
USDJPY continues to run higher. But is it starting to run out of steam? If the pair struggles to overcome the 114.20 barrier, then that could be our first warning. If then, USDJPY retraces and breaks below the short-term upside support line, taken from the low of the 26th of October, this is where it could become worrying for the bulls, which could force them to abandon the field for the time being. This would allow the sellers to pull the pair back down towards the 113.00 level, or even further down.
If USDJPY eventually breaks the 114.20 zone, then this could open the path towards the 114.55 barrier, marked by the highest point of October.
Please review the chart for details.
Always have your SL in place.