• USDJPY To Move Higher Again?

    USDJPY To Move Higher Again?

    The USDJPY pair has corrected back to around 100.80 after hitting a high of 101.50. Now the US dollar may strengthen again against the Japanese yen as the pair finds support at 100.80. Notice that this level was a resistance before, suggesting that those who sold and was left out at this mark may buy back and hence provide some support for the pair. If the 100.80 marker holds, then the greenback can extends its positive run versus the yen and bring the pair back towards 101.50. With stochastics finding support at the 20 level as it did recently also suggest a possible turn around in momentum as well. In any case, a breach of 100.80 may send it down to at least 100.40.

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