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USDJPY: Could it hold the current bid ?
U.S. Dollar / Japanese Yen
Short
USDJPY: Could it hold the current bid ?
By Sforex
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May 22, 2016
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May 22, 2016
USDJPY had had a strong effort to rally to 110.60 from the trough 105.25
Now USDJPY is testing strongest resistance levels :
- Descending trend line
- Kumo cloud
- SMA50 + EMA50
- Resistance 110.60
So I think USDJPY should bounce from those resistance.
My pick : SELL USDJPY back to 108
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