The US dollar gave back early gains against the Japanese yen as the ¥110 level continues to offer resistance. By turning around the way it has, it looks as if the market will continue to favor selling pressure more than anything else. The ¥109 level continues to offer support, so if we were to turn around and break down below there then it is likely that we could go looking towards the ¥107.50 level. On the other hand, if we were to turn around and break above the ¥110.75 level, then it is likely that the market could break out towards the ¥112 level after that.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.