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USDJPY on Track to Test 110.50 Support Level

Discussion in 'Technical Analysis' started by FXStreet_Team, Apr 5, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The USDJPY has been relatively determined in its recent resolve to move lower and test the key 110.50 support level. However, despite the growing Dollar bearishness, the downside is likely to be relatively limited for the pair. The past few days have seen the Yen appreciating sharply against the US Dollar, as a bevy of negative sentiment eroded any gains from the strong US Non-Farm Payroll result. Subsequently, it would appear that the broad negative move against the US Dollar cross pairs was

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