USDJPY - Intraday - We look to Sell at 108.10 (stop at 108.40)
Levels close to the 61.8% pullback level of 107.60 found buyers. Buying posted in Asia. Price action has formed a bullish ending wedge formation. The trend of lower highs is located at 108.49. The rally has posted an exhaustion count on the intraday chart. The medium term bias is neutral. Further downside is expected and we prefer to set shorts in early trade. Our profit targets will be 107.20 and 106.50
Resistance: 108.10 / 108.16 / 108.89 Support: 107.55 / 107.20 / 106.60- Intraday - We look to Sell at 108.10 (stop at 108.40)
Levels close to the 61.8% pullback level of 107.60 found buyers. Buying posted in Asia. Price action has formed a bullish ending wedge formation. The trend of lower highs is located at 108.49. The rally has posted an exhaustion count on the intraday chart. The medium term bias is neutral. Further downside is expected and we prefer to set shorts in early trade.