Dice on paper
Markets

Can USDJPY reclaim 116.00 or is the cat going to go thud?

115.80 is resistance now but the big figure will be the important line to regain

That's quite possibly it for the day as afar as the downside goes. That's 235 pips door to door and that puts the price well in the realm of being stretched, for this pair.

We held up for a bit at the broken 115.55/60 area and are doing the same at 115.80 as I type.

If this drop today isn't to develop into something more, we'll need to get back above 116.00.

Hold and the downside gets tested again

USDJPY 15m chart

I had a short from 116.03 that I wrote about in the comments. I took half off on the break of 115.60 and will be happy to run the rest. I'll re-assess if 116.00 breaks

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

ForEx

Latest Markets Videos