USD/JPY: US dollar bounced at 112.745 and attempted to push through 112.820
|USD/JPY: US dollar bounced at 112.745 and attempted to push through 112.820
What is going on now with USD/JPY:?
USD/JPY: The US dollar bounced at 112.745 support in yesterdays session and returned to its 500 EMA in the 60 minutes price chart. The pair had two attempts to continue at its 500 EMA but failed and pulled back during the European session.
Our forecast
USD/JPY: The US dollar slipped below its 500 EMA and had been drifting down for the past 4.5 hrs. The pair reached lows of 112.745 in this morning's trades before pushing prices up to 112.820. The US dollar needs to remain above 112.745 support to head back up to 112.910 and 113.015. The pair could continue down to 112.610 support if it fails at 112.745
Support/short target - 112.760, 112.615, 112.530, and 112.425
Resistance/Long Target -112.975, 113.180, 113.280, and 113.410
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