USDJPY Analysis: Continues to gain

USDJPY

The US Dollar has jumped against the Japanese Yen in the second part of Wednesday's trading session. The jump resulted in the pair suddenly being above the upper trend line of a medium term ascending pattern.

It was immediately noticed that the rate had begun to use the resistance of the medium pattern as support by midnight. 

However, note that a rather week ascending pattern was drawn on Thursday. In addition, as the pair faces no other resistance but the upper trend line of the new junior pattern, it is highly possible that a rise of the US Dollar is set to continue soon.

USDJPY

 

Interested in USDJPY technicals? Check out the key levels

    1. R3 113.97
    2. R2 113.08
    3. R1 112.55
  1. PP 111.66
    1. S1 111.12
    2. S2 110.23
    3. S3 109.7

 

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