USDJPY with Little Technical and Max Fundamental MUST READUSD/JPY the most favorite trade now a days globally accumulating targets 107.50.
Technical :
This pair is little influence with technical but support and resistance matters in this pair in terms of technical .apart from it we are looking for channel as I have nicely mapped over daily but for short term trader I have marked it with 4 hr chart with recent channel on which the pair is flowing .
You by your own could look it up by mere observing and sure no rocket science here but macro-economics matters .
Fundamental
Now If we look at demand supply the demand for yen is increasing though fed has set the dollar with stronger economics yen also having stronger level of GDP forecast and manufacturing and yen is also better option now instead of euro and partially GBP. Secondly ,i would Discuss the sentiments of the traders where most of the price action matters ,the COT report where position of Non-Commercial is getting momentum against USD and generating for YEN so the levels are surely possible according to recent data ..
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