USDJPY 2016-05-10

May 10, 11:34 am

USD/JPY

109.20

Market managed to head toward target 108.80-90 where market managed to break above but still need daily close above this zone to activate another bull wave toward 110.00 and maybe 111.85

traders headed to short Japanese Yen after Japan’s Finance Minister said the government can intervene to stabilize foreign-exchange markets if necessary.

market holding support at 108.15 and 107.40-50 where as long as market holding above those support market will sustain advance toward 110.00

  Support Resistence
Level 1 108.15 109.45
Level 2 107.40-50 110.00
Level 3 106.60 111.50-80
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