USD/JPY broke key resistance level 111.70

USD/JPY broke key resistance level 111.70

  • USD/JPY broke key resistance level 111.70
  • Next buy target - 115.00

USD/JPY continues to rise after the earlier breakout of the key resistance level 111.70 (which reversed the earlier correction 4 and which served as the powerful support level in the middle of February, as can be seen below). The breakout of this resistance level should accelerate the active long-term upward impulse wave ③ - which started earlier from the support zone near the support level 108.00.

USD/JPY is expected to rise to the next buy target at the next resistance level 115.00 (top of the previous primary intermediate (B)-wave from March).

jpy

Similar

Bitcoin (BTC/USD): a bottom could be found soon?

The bears were the main protagonists during the past week since the price action remained consolidated below the 200-hour moving average and we have seen that the cycle that we mentioned in previous reports could triple, according to our projections in…

Popular

Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera