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USDJPY - Double Upside Rejection Signals Hesitation Ahead Of Strong Resistance Zone

Discussion in 'Technical Analysis' started by Kaitlin, Sep 30, 2016.

  1. Kaitlin

    Kaitlin Forum Member

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    Recovery rally from 100.00 base shows strong hesitation, after rally was rejected at 101.83 yesterday and at 101.76 on today’s renewed attempt higher. Quick pullbacks followed upside rejections on both times, signaling strong resistance zone ahead, formed by daily cloud base/bear-trendline/daily Kijun-sen) which is expected to cap extended rallies.[​IMG]

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