USD/JPY Break Above 112.66 Is Not Out Of The Question
Jason Sen | Mar 31, 2016 06:19AM ET
USD/JPY very minor resistance at 112.41/44, then the main resistance of the day again at 112.66/70. We should struggle here initially, but a break higher today is not out of the question and targets a selling opportunity at 113.05/10. Shorts need stops above 113.40.
Holding below 112.40 targets 112.25/21 then yesterday's low at 112.00/99. If we continue lower look for some support at 111.85. We are oversold short-term, so a low for the day is possible here. However, a break below 111.70 keeps the pressure on for 111.54/50 and 111.39/35.
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