Forex Marketz Daily Forex News – Fully Markets Update
The USD continues to show some strength against the yen (JPY) as it is above the former resistance now support at 102.20. This happened as a hammer formed on the daily chart. See below. Should we close above this level today then the doors will open to test 103.00. Before that level lays a significant level at 102.80/75.
There is an alternative view, which is evident on the four hour chart below. Near 102.38/39, a Doji formed which could mean traders might not have the conviction needed to probe significantly higher. Still we do not see strong bearish formations at this time and we are hopeful while above 102.20.
