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USDJPY showing beginning signs of retracement
The USDJPY has made consistent gains from Jan 2012 and is starting to show signs of an overdue retracement.
The pair is showing a bearish engulfing candle set-up at the 2006 resistance level which could be signalling a short term end to the bull movement for the time being. If a pull back is to occur the next significant level of support which could be a liable point for buyers to step back in as at the 115 support zone from 2006.
Currently forecasti…
The USDJPY has made consistent gains from Jan 2012 and is starting to show signs of an overdue retracement.
The pair is showing a bearish engulfing candle set-up at the 2006 resistance level which could be signalling a short term end to the bull movement for the time being. If a pull back is to occur the next significant level of support which could be a liable point for buyers to step back in as at the 115 support zone from 2006.
Currently forecasti…