Chart Of The Day: Failure To Cross 110.00 Portrays USDJPY Weakness

Fri, 08 Feb 2019 12:42

Repeated failures to surpass the 110.00 barrier signals weakness on the part of the USDJPY, which in-turn can drag the pair to 109.50 and then to the 109.10. However, the ascending trend-line support at 108.70 could confine the quote's further declines. In case the pair slips under 108.70, the 108.40, the 107.65 and the 107.00 could become sellers' favourites.

Should there be an upside past-110.00, then the pair can aim for 110.30 and the 111.45 numbers to north. Moreover, pair's sustained trading above 111.45 enables it to aim for 112.20 and the 112.60 resistance levels.

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