- USD/JPY is meeting the strat of a resistance area around 135.70/00.
- Bulls remain focused on the 136 area for the next sessions.
USD/JPY has had a good run on the day, bursting up into the 135.70s. The market is trending back up into the start of May´s sell-off and a resistance area while being on the front side of the bullish trendline as the following analysis will show:
USD/JPY daily charts
Bulls are testing the prior bullish trendline that would now be expected to act as counter-trend line resistance.
On closer inspection, we can see there could be room to the 136s.
In any case, we have a support area between 135.20/50.
USD/JPY H4 chart
The rally could be regarded as a touch over-extended so late in the day and this may have run its course into the close.
Comments are closed.