FXWW News/Technical Analysis/Trade Ideas/USD/JPY

USD/JPY: Technical support near 97.60 but selling rallies favoured

If you are a strong believer that this pair is in an up-trend then you can consider buying Fibo pull-backs to levels like 97.60 (50% 93.75/101.45) see chart. I am of the opinion that we are in an extremely choppy market phase and I think we are more likely to see lows near 94.50/95.00 before the market stabilises again. Resistance levels should be firm now on the approach to 99.00.

  1. call me the faithful but i wouldn’t like to buy now, 🙂 it seems that i will have extended period of wait & see for few days

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