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USD/JPY: Technical resistance 97.40/60

The 38.2% retracement of the 99.95/95.80 move comes in at 97.40 and the previous strong support at 97.60 is now a strong resistance level (see chart).

USD/JPY bears can try selling a failure at the latter level with a tight stop.

  1. Hey Sean,

    Im personally expecting this pair to return to below 97 range tonight, but if the usd/jpy train keeps heading north for 20 more pips im going have to reevaluate my thoughts regarding this pair. Do you think the rebound has started, or are you still expecting a deeper retracment as myself?

  2. HI Sean,
    Read your post the other day about cable. If USD is turning north, it certainly worth to take a serious look at shooting down cable. 156 looking quite strong of a resistant at the moment and looking for a fall back to 148? wishful thinking 😉

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