OctaFX | OctaFX Forex Broker
Open trading account
Back

USD/JPY prepares for a further leg upwards – FXStreet

FXStreet (Barcelona) - FXStreet Editor and Analyst Omkar Godbole sees the USD/JPY pair moving to 117.00 levels if it sustains above the 116.12 levels.

Key Quotes

“The pair is trading higher today at 116.29 levels, with the daily RSI overbought at 81.74 levels.”

“The price action in the current week suggests that USD bulls may have reached exhaustion since the pair has repeatedly failed to close above 116.00 levels. Thus, a sharp Sell-off towards 114.90 levels can be anticipated today if the pair once again fails to capitalize on the gains above 116.00 levels.”

“However, a further leg upwards towards 117.00 levels cannot be ruled out if the pair sustains above the previous cyclical high of 116.12 levels.”

Yen bashing continues

The USD/JPY pair is trading above the previous cycle high of 116.12 ahead of the key data releases in the Europe and US.
Read more Previous

EUR/USD regains 1.2470

The greenback is taking a breather now, allowing EUR/USD to recover the vicinity of 1.2470, closer to session peaks near 1.2480...
Read more Next
Start livechat