USD/JPY Price Analysis: Bulls targeting 110.00
|- USD/JPY is on the verge of a restest of the 110.00 level.
- Bulls have pierced the hourly resistance and broken 15-min structure.
USD/JPY is on the way to the 110 area as the US dollar continues to firm following Friday's bullish perforace.
The -61.8% Fibonacci of the hourly correction comes in at 109.99.
Hourly chart
15-min chart
The 15-min resistance structure was broken in the Tokyo open which would now be expected to act as support.
Bulls have a high probability set up on the table at this juncture.
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.