USDJPY ticks to a new high and moves away from a key swing area in the process

Technical Analysis

The USDJPY is ticking to a new high and is up for the 3rd consecutive day.

In the process, the price is extending above a key swing area between 143.44 to 143.54. That area will now be a close risk level for traders going forward. Stay above is more bullish. Move below and we should see some downside retracement on the failed break.

Tomorrow the key US CPI will be released with the expectations for the YoY headline to tick up to 3.3% from 3.0% as the year-ago levels on a month-to-month basis took a 2 month hiatus from moves higher.

That data might give traders some cause for pause on too much upside momentum The high for the year at 143.88 is the next key target.

#USDJPY #Forexlive #forextrading

Articles You May Like

Forex Trading For Beginners (Full Course in under 26 Minutes)
🔴 Live POCKET OPTION TRADING | Pocket Option App | Pocket Option | Binary Options #livetrading
Why I trade with a 1 to 1 risk/reward ratio… #shorts
Parameter To Build Your Own Trading System – I Will Be A Trader
🔴 These Settings NEVER FAIL! – This Strategy Makes Losing IMPOSSIBLE!

Leave a Reply

Your email address will not be published. Required fields are marked *