USD/JPY extends Monday’s rebound from three-week low, refreshing intraday low at the latest. USD/JPY stays on the front foot for the second consecutive day, up 0.16% intraday around 113.85 as Tokyo opens for Tuesday. For now, though, selling pressure ahead of the psychologically important 114.00 level and the 21DMAl near 114.10 just above it is preventing any further gains.
While the 55-DMA and the current November low at 112.85/73 hold overall upside pressure should remain in play. Further down sits the 111.66 July high.
While the 55-DMA and the current November low at 112.85/73 hold overall upside pressure should remain in play. Further down sits the 111.66 July high.