What happened? Japanese shares fell on Monday…
USD/JPY broke resistance zone
2019-11-11 • Updated
- USD/JPY broke resistance zone
- Next buy target - 111.00
USD/JPY recently broke through the resistance zone lying between the key resistance level 110.00 (which stopped the pervious minor correction 2 with the daily Evening Star in May, as can be seen below) and the 61.8% Fibonacci correction of the pervious sharp downward impulse from January. The breakout of this resistance zone strengthened the bullish pressure on this currency pair. USD/JPY is expected to rise further toward the next buy target at the next resistance level 111.00.
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