OctaFX | OctaFX Forex Broker
Open trading account
Back

USD/JPY maintains 107.00 at the Tokyo open

FXStreet (Bali) - USD/JPY opens the Tokyo session at 107.10, en-route to rested 107.17 high, still looking very bullish despite the over-extended move from recent weeks.

According to Jim Langlads, Founder at FXCharts: "107.30 should prove strong resistance and I am a bit doubtful that the dollar will take it out today unless the US retail sales are particularly strong. If that is the case, then look for a continuation towards 108.01 (Sept 19, 2008)..."

"With the 4 hour charts being at overbought extremes, dips are inevitable but look to be relatively shallow. Today’s low at 106.63 and then the 100 Month MA at 106.45 are the first obvious supports" Jim adds.

EUR/JPY: Risk of further upside - FXStreet

According to Valeria Bednarik, Chief Analyst at FXStreet, some consolidation and a following acceleration above 138.40 is required to confirm a new leg up in EUR/JPY.
Read more Previous

AUD/USD aiming for lower levels below 0.91

AUD/USD is trading pressured in Asia, with bears still the force in full control, presently at 0.9090 lows after the major bull trap from last Thursday following an astonishingly high Aus jobs report.
Read more Next
Start livechat