USD/JPY testing resistance zone
The modest strengthening in the yen has alerted the calculus for investing in Japan so USD/JPY deserves close attention for the week ahead.
Previous week it broke down consolidation support 102.000-102.040 and had nice follow through to 101.421 and entered into wide range with slightly bias to downside.
I expect to see retest of previous week's lows and potential breakdown. In the morning price confirmed resistance zone at 102.000-.040, consider Short positions close to that and additional follow through it it will break trend line below 101.840
Previous week it broke down consolidation support 102.000-102.040 and had nice follow through to 101.421 and entered into wide range with slightly bias to downside.
I expect to see retest of previous week's lows and potential breakdown. In the morning price confirmed resistance zone at 102.000-.040, consider Short positions close to that and additional follow through it it will break trend line below 101.840
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