FxWirePro: USD/JPY loses momentum but outlook is bullish
USD/JPY pair has recovered some ground to trade around 103.32 levels, having declined down earlier towards 103.12 during in the early European session. The pair is currently trading a few pips above its daily lows, maint…
USD/JPY pair has recovered some ground to trade around 103.32 levels, having declined down earlier towards 103.12 during in the early European session.
The pair is currently trading a few pips above its daily lows, maintaining its overall bullish tone intact.
The pair is all set to move in quick succession towards 104.00 levels in the near term, as dollar is set to strengthen against Japanese yen in the short term.
To the upside, the strong resistance can be seen at 104.30, a break above this level would take the pair all the way towards 104.85 levels.
To the downside, immediate support can be seen 103.00, a break below this level will take the pair to next level at 102.18.
