USDJPY Price Reversal Leaves Risk Towards 112.88 Zone
|USDJPY price reversal leaves risk towards the 112.88 resistance. On the downside, support comes at the 112.00 level where a break will target the 111.50 level. A break through here will turn focus to the 111.00 level and then lower towards the 110.50 level. On the upside, resistance comes in at 112.50 level. Above here will open the door for more strength towards the 113.00 level. Further out, we expect a possible move towards the 113.50 level on a break of the former level. Further out, resistance resides at the 114.00 level with a turn above here targeting the 114.50 level. On the whole, USDJPY faces further upside pressure following its price reversal.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.