USD/JPY looking to retrace 50%

USD/JPY looking to retrace 50%

USD/JPY has been strongly bearish across the board, looking to test new lows. During November 15th session, the pair has made a rebound and it’s targeting the Fibonacci zone of 50% at 113.18. If we see a pull back around that area, we can be on the way to test the next Fibonacci target of -23.6% at 112.12, while to the upside, if the pair breaks above 78.6%, then it can reach the November 14th at 113.89.

RSI indicator is in the neutral territory, calling for further sideways’ consolidation.



Latest news

GBP/USD: pound entered into channel Tenkan-Kijun

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.


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