4 Dec 2014
USD/JPY next resistance at 121 – UOB
FXStreet (Barcelona) - The UOB Group Team notes that USD/JPY focus has shifted for a move towards higher resistance at 121.00 after it breached 119.85 levels today.
Key Quotes
“Now that 119.85 is breached, the focus has shifted for a move towards the next major resistant at 121.00. Despite overbought conditions, it is premature to expect a top just yet and only a break below the trailing-stop at 118.70 (from 118.20) would indicate that an interim top is in place.”
Key Quotes
“Now that 119.85 is breached, the focus has shifted for a move towards the next major resistant at 121.00. Despite overbought conditions, it is premature to expect a top just yet and only a break below the trailing-stop at 118.70 (from 118.20) would indicate that an interim top is in place.”