USD/JPY: An Unexpected Break Above 110.0 Targets 110.50
Jason Sen | Apr 21, 2017 07:11AM ET
USD/JPY holding above 109.20/25 targets a selling opportunity at 109.80/90, with stops above 110.20. We could sell off back to 109.30/20. An unexpected break above 110.10 however targets 110.50 and perhaps as far as strong resistance at 110.90/99.
First support at 109.25/20 but a move below 109.00 signals weakness towards 108.70 before this week's low at 108.15/10. Buy anywhere from here down to strong support at 107.90/80. This is an excellent buying opportunity with a very good chance of a strong recovery. Try longs with stops below 107.40.
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