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USDJPY Sees Rally With Eyes On Key Resistance Area


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USDJPY sees rally with eyes on key resistance area located at 11213. Further out, resistance comes in at 112.50 level. Above this level will shift focus to the 113.00 level with a cut through sending the pair towards the 113.50 level. A break through here will open the door for more gain towards the 114.00. Its daily RSI points higher suggesting further upside pressure. On the downside, support comes in at the 111.00 level where a break will target the 110.50 level. Below that level will turn focus to the 110.00 level and then lower towards the 109.50 level. On the whole, USDJPY faces further upside pressure threats.


This is an excerpt fromFXT Technical Strategist Plus(PRO Plan Package), a 7-currency model analysis and trade alerts utilized by all levels of traders with trade alerts.See Pricing and Get Strated


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About the author


Mohammed Isah is a Technical Strategist and head of research at FXTechstrategy.com, a technical research website. He has been trading and analyzing the foreign exchange market for the past 7 years.

He formerly traded stocks before crossing over to the forex market where he worked for FXInstructor LLC as a technical analyst and head of research before Joining FXTechstrategy.com. Mohammed has written extensively on the forex market and technical analysis and his articles have been featured in The Technical Analyst Magazine, The Forex Journal MagazineThestreet.com, MoneyShow, The Technical analysis of Stocks & Commodities Magazine, Businessinsider and FXstreet.com

At FXTechstrategy.com he writes daily and weekly technical commentaries on currencies and commodities which are offered to its clients. He provides full coverage of the forex market with specific daily focus on 7 currencies (EURUSD, GBPUSD, USDJPY, EURGBP, EURJPY, AUDUSD and USDCAD) and the Dollar Index utilizing various technical tools and strategies. He also covers the commodities market twice in a week focusing on in-depth technical developments in GOLD, CRUDE OIL, SILVER, CORN, WHEAT and CRB Index.

Mohammed can be reached via email at m.isah@fxtechstrategy.com.

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