Forex Marketz Daily Forex News – Fully Markets Update
USD/JPY (106.618)
The dollar continues to climb against the yen. At this point, now that we are firmly above ¥106, and with no signs of bearish reversal patterns we should continue to inch higher. The next key technical level is at ¥106.90, with a breach of that level targeting the psychologically important technical level at ¥107.
Looking at the 4 hour chart shows some hesitation from the buyers near ¥106.40. This appears to have ended and the buyers have come back out. We not the last attempt of a bearish candlestick saw no follow through. This leads us to believe that risk is skewed to the upside for now.
