Technical analytics

USDJPY market technical outlook

USDJPY

Daily chart:

The major made a steep spurt yesterday and reached the pivot-level 106.766, but probably it’s not the ceiling, since upswing wasn’t completed with this move. Thus today bulls can try to test the next PPZ 107.230.

H1-chart:

Local structure has uptrend and undergoes the stage of new trending upswing forming. Thus here we also can expect growth of the quotes above the last high (106.980).

Conclusions:

Growth towards 107.230.

Trading recommendations:

Longs towards 107.230.

 

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