USD/JPY Price Analysis: Bulls targeting 110.00

  • USD/JPY is on the verge of a restest of the 110.00 level. 
  • Bulls have pierced the hourly resistance and broken 15-min structure. 

USD/JPY is on the way to the 110 area as the US dollar continues to firm following Friday’s bullish perforace. 

The -61.8% Fibonacci of the hourly correction comes in at 109.99. 

Hourly chart

15-min chart

The 15-min resistance structure was broken in the Tokyo open which would now be expected to act as support.

Bulls have a high probability set up on the table at this juncture. 

Articles You May Like

Gold shines amid SVB collapse, markets await FOMC for next week
10 EMA Jackpot Strategy | Intraday trading strategy | Swing trading strategy | Game changer |
Highly Profitable MACD Strategy for Trading Forex, Crypto or Stocks
Adobe lifts profit forecast for fiscal 2023 and beats estimates on quarterly results
China president Xi to travel to Russia on 20-22 March

Leave a Reply

Your email address will not be published. Required fields are marked *