USD/JPY: The market is consolidating between 114.00 and 105.00.

Tian Kriek

Analyst


May 21, 2019 03:46 AM

BEARISH

Daily Trading Range:
USD/JPY: The market is consolidating between 114.00 and 105.00. There is no trend at the moment however, the market is moving bullish from support to resistance. Due to the JPY basket strength we are seeing at the moment I expect the USDJPY to continue South to support at 110.00. In the event that the 110.00 is broken then the price will continue lower. I am OUT of this one for the time being

Daily Chart

Daily Chart

Daily Support and Resistance

Resistance 3: 108.1300
Resistance 2: 110.7000
Resistance 1: 113.5000
Current Price 110.1800
Support 1: 111.0000
Support 2: 99.8600
Support 3: 93.0000

Two Hour Chart

Two Hour Chart
The market is moving can you keep up?