USDJPY 2018-07-16
As we advised last week and as we see over our previous chart
USDJPY managed to break above Short-Run resistance 111.40 last week which trigger fast advanced on market
we still looking toward our second scenario after the break where target around 113.30-70 zone
The pair beeing on the overbought seems not holding the advance while zone of 113.30-70 may set a drop correction toward 111.90
Above 113.70 market may hold the advance rally toward 114.70 which in turn may trigger such drop correction
Support | Resistance | |
Level 1 | 111.90 | 113.30 |
Level 2 | 111.30-40 | 113.70 |
Level 3 | 110.50 | 114.70 |