USDJPY Support Fails: Where To Next ?
Fri 13th January 2023 : Daily Currency Strength Analysis
In Today’s Video we’re looking at Trading Setups in:
- USDJPY
- EURCHF
USDJPY Support Fails
In today’s currency strength video we identified two markets of interest. The USDJPY and EURCHF have both formed a break of key support and resistance.
The tables highlight that the USD is the weakest currency and the JPY is the strongest. Looking at the USDJPY currency pair we can see why.
On the charts we can see that USDJPY has been trading within a bearish channel however, price recently found support at the lows of 130.50.
Due to the strength and weakness within the currency pair the price has now broken down through this level.
If price is going to continue lower we could look for opportunities down to the 126.50 or 124.00 levels of support.
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