Forex Marketz Daily Forex News – Fully Markets Update
USD/JPY (121.002)
- Resistance Levels: 121.90, 123.87, 125.85
- Support Levels: 120.81, 119.70, 117.18
- Trade Strategy: Stand Aside
The USD/JPY remains below the key pivot at ¥122. The Dollar is having trouble breaking this rather formidable barrier. Please see the below daily MT 4 chart.
The Dollar is below the December sing high and near term resistance remains at the end of a congestion area that runs from 121.85 to 121.90 (the December 9 high). A break above this area will challenge 123.87. A fall below 120.81, former resistance level and the high made on December 23 will challenge 119.70. This is also the trend line support.
