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USD/JPY – Closing in on Key Resistance (Daily chart)
After a last bearish attack on the key support area between 108.30 -108.80 + false break, the bulls came back with force, launching the pair 500+ pips higher in only 2,5 weeks.
We’re now closing in on the key resistance zone @ 114.30 which is the bottom of a larger LT resistance zone at which we’ll likely see some profit taking + increased bearish activity.
On a successful rejection from the level, bears initially would have to look out for minor supports coming in @ 111.80 and 110.70.
A successful break and close above …... Keep reading