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23 Jan 2015
USD/JPY is finishing a choppy week below 20DMA resistance
FXStreet (Guatemala) - USD/JPY is currently trading at 117.80 with a high of 118.83 and low of 117.54.
USD/JPY is finishing up for the week broadly offered, down from the 118.80 resistance level and 20 DMA that has been tested a few times this week while the bears have been held up in the 117 handle since the 18th Jan's rally from just shy of the figure.
Beyond the resistance lies a downtrend from 119.91 which could come under pressure next week should the dollars trajectory stay on track. Beyond there Beyond there we have further major resistance at 122.58/123.40. However, either of these levels may be met with strong supply with decent offers that would contain the pair within the familiar range where short term support comes in at the 38.2%, 115.55/50.
USD/JPY is finishing up for the week broadly offered, down from the 118.80 resistance level and 20 DMA that has been tested a few times this week while the bears have been held up in the 117 handle since the 18th Jan's rally from just shy of the figure.
Beyond the resistance lies a downtrend from 119.91 which could come under pressure next week should the dollars trajectory stay on track. Beyond there Beyond there we have further major resistance at 122.58/123.40. However, either of these levels may be met with strong supply with decent offers that would contain the pair within the familiar range where short term support comes in at the 38.2%, 115.55/50.