HomeContributorsTechnical AnalysisUSDJPY Broader Risk Points Higher Towards 114.53 Resistance

USDJPY Broader Risk Points Higher Towards 114.53 Resistance

USDJPY broader risk points higher towards 114.53 resistance zone. As long as the pair trades and holds above the 113.38/57 support levels, its broader uptrend remains valid. On the upside, resistance comes in at 115.00 level. Above here will turn focus to the 115.50 level. Further out, we expect a possible move towards the 116.00 level if the earlier level is taken out. Its daily RSI is bullish and pointing higher suggesting further upside pressure. On the downside, support comes in at the 113.50 level where a break will target the 113.00 level. A break through that level will turn focus to the 112.50 level and then lower towards the 112.00 level. On the whole, USDJPY faces further upside pressure with eyes on the 114.53 zone.

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FXAssurehttps://www.fxassure.com/
Mohammed Isah is a co-founder, technical strategist and head of research at FXAssure.com. 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 FXassure.com.

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