USDJPY Range bound trading continues

Discussion in 'Technical Analysis' started by FXStreet_Team, Oct 22, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    As I already stated a couple of times, USDJPY is range bound with a bit more buying into dips. Presumably it is done by institutional traders as we can see from the chart. Scholastic example of double bottom vs V shaped reversal spike the pair up close to 120.00 level. Interim resistance zone lies at 120.00-10 (channel top + H3) and we could see some selling towards 119.40 which is important support. I would pay attention to 119.00-118.80 zone as the dip in could be used for some short term

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