The USD/JPY instrument shows bullish momentum overall, as price is above a major ascending trend line. A potential bullish breakout could lead to a rise towards the 2nd resistance level. The 1st support level at 133.53 is a multi-swing low support level, while the 1st resistance level at 135.27 is an overlap resistance level coinciding with the 38.20% Fibonacci retracement level. The 2nd resistance level at 136.75 is also an overlap resistance level coinciding with the 78.60% Fibonacci retracement level.
The material has been provided by InstaForex Company – www.instaforex.com
The USD/JPY instrument shows bullish momentum overall, as price is above a major ascending trend line. A potential bullish breakout could lead to a rise towards the 2nd resistance level. The 1st support level at 133.53 is a multi-swing low support level, while the 1st resistance level at 135.27 is an overlap resistance level coinciding with the 38.20% Fibonacci retracement level. The 2nd resistance level at 136.75 is also an overlap resistance level coinciding with the 78.60% Fibonacci retracement level.
The material has been provided by InstaForex Company – www.instaforex.com
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