Forex Marketz Daily Forex News – Fully Markets Update
The Dollar is at another key moment against the Japanese yen. The USD/JPY is now nearing the range top and there are no key signs of a reversal. We are looking for any bearish candlesticks or patterns but do not see any. At this point we need to close back under the key technical level near ¥100.20/¥100.19 to open the doors lower for ¥100.60 then ¥100.20.
We have seen Dojis forming. This signals that bulls are a bit hesitant to really buy at this level. This could cause the currency pair to wander a bit before making another move. However, with no clear reversal signs, yet, we could be breaking out of the consolidation pattern we have been stuck in for the past several months.
