Fri, May 07, 2021 @ 13:38 GMT
Home Contributors Technical Analysis USD/JPY Analysis: Consolidated In 107.25 Area

USD/JPY Analysis: Consolidated In 107.25 Area

On Wednesday, the USD/JPY currency pair tumbled to the 107.20 level. During today’s morning, the pair was consolidating in the 107.25 area.

On the one hand, it is likely that the exchange rate could continue to trade sideways in the 107.20/107.35 area within the following trading session.

On the other hand, it is likely that bulls could prevail in the market in the short run. Meanwhile, it is unlikely that the rate could exceed the 107.45/107.58 area due to the resistance formed by the 55-, 100– and 200-hour SMAs, as well the weekly PP

Dukascopy Swiss FX Group
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

Featured Analysis

Learn Forex Trading