FOREX Technical Analysis: USD/JPY Taking out Resistance
Chart Prepared by Jamie Saettele, CMT
FOREXAnalysis: The USDJPY is pushing through the resistance cluster near 8150. Showing no signs of reversing, one must respect the potential for strength towards the next resistance cluster near 8250. ONLY a drop below 8108 at this point would warrant reversal consideration.
FOREXTrading Strategy: Longs on weakness into 8160 could work with a stop below 8108 and 8250 target.
LEVELS: 8089 8108 8160 8200 8244 8338
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.