USD/JPY Intraday: Watching for a Trigger Above Resistance
USD/JPY (USD/JPY)
+0.369+0.23%
The upside prevails as long as 157.35 is support, with 158.04 and 158.21 as targets
Our pivot point is at 157.35.
Our preference: The upside prevails as long as 157.35 is support, with 158.04 and 158.21 as targets
Alternative scenario: below 157.35, expect 157.08 and 156.91.
Comment: Prices are now within reach of our first target, a level that could invite the price to consolidate. On the flip side, a clear break above it may well sustain the upward move.
Supports and resistances:
158.37 *
158.21 **
158.04
157.80 last
157.35 **
157.08 *
156.91 **
Our preference: The upside prevails as long as 157.35 is support, with 158.04 and 158.21 as targets
Alternative scenario: below 157.35, expect 157.08 and 156.91.
Comment: Prices are now within reach of our first target, a level that could invite the price to consolidate. On the flip side, a clear break above it may well sustain the upward move.
Supports and resistances:
158.37 *
158.21 **
158.04
157.80 last
157.35 **
157.08 *
156.91 **
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