USDJPY - 240 - How long will the upside line hold?
Trade Alert
This is something to keep in my, going into the US trading session and the FOMC meeting.
USDJPY continues to trade above its short-term upside support line, taken from the low of the 7th of September. If the line remains intact and we get a break above the 113.00 level, this could invite a few more bulls for another little push of USDJPY to the upside.
If the break of the upside line eventually happens, this could lead to further declines. The first potential area of support to monitor could be the 112.45, marked near the lows of this week.
Please review the chart for the potential levels.
Always have your SL in place.
This is something to keep in my, going into the US trading session and the FOMC meeting.
USDJPY continues to trade above its short-term upside support line, taken from the low of the 7th of September. If the line remains intact and we get a break above the 113.00 level, this could invite a few more bulls for another little push of USDJPY to the upside.
If the break of the upside line eventually happens, this could lead to further declines. The first potential area of support to monitor could be the 112.45, marked near the lows of this week.
Please review the chart for the potential levels.
Always have your SL in place.