Thu, Mar 23, 2023 @ 23:31 GMT
HomeContributorsTechnical AnalysisUSDJPY - Looks To Recover Further Higher

USDJPY – Looks To Recover Further Higher

USDJPY – The pair rejected lower prices to close higher on Monday leaving risk of more gains on the cards. On the downside, support comes in at the 108.50 level where a break if seen will aim at the 108.00 level. A cut through here will turn focus to the 107.50 level and possibly lower towards the 107.00 level. On the upside, resistance resides at the 109.50 level. Further out, we envisage a possible move towards the 110.00 level. Further out, resistance resides at the 110.50 level with a turn above here aiming at the 111.00 level. On the whole, USDJPY looks to recover further.

Mohammed Isah is a co-founder, technical strategist and head of research at He has been trading and analyzing the foreign exchange market for the past 7 years. He formerly traded stocks before crossing over to the forex market where he worked for FXInstructor LLC as a technical analyst and head of research before Joining

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