USD/JPY Selling Opportunity At 118.85/90
Jason Sen | Jan 28, 2016 04:40AM ET
USD/JPY selling opportunity at 118.85/90 today and a good chance of a high for the day here yet again. This remains the most important resistance of the day but shorts need stops above 119.15. A break higher therefore is a short term buy signal and targets 119.27/30 then strong resistance at 119.70/75.
Failure to beat 118.85/90 as expected targets 118.50 then support at 118.35/32. A good area for short term profit taking but we could continue lower perhaps later in the week to target 118.20/16 then support at 117.93/88 for a buying opportunity. Stop below 119.60.
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