This pair made a slight bearish movement on April 2. There is still a weak Bullish Confirmation Pattern in the market, at least on a short-term basis.The further bearish movement would result in a confirmation of the recent bearish bias, while a movement to the upside will bring about a bullish bias on the market.
This month, there will be great volatility on JPY pairs, which would most probably favor bears. The supply level at 107.00 has thus become a major barrier for any bullish effort, as price goes downwards towards the demand levels at 106.00, 105.50 and 105.00.
The material has been provided by InstaForex Company – www.instaforex.com
USD/JPY
This pair made a slight bearish movement on April 2. There is still a weak Bullish Confirmation Pattern in the market, at least on a short-term basis.The further bearish movement would result in a confirmation of the recent bearish bias, while a movement to the upside will bring about a bullish bias on the market.
This month, there will be great volatility on JPY pairs, which would most probably favor bears. The supply level at 107.00 has thus become a major barrier for any bullish effort, as price goes downwards towards the demand levels at 106.00, 105.50 and 105.00.
The material has been provided by InstaForex Company – www.instaforex.com
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