USD / JPY Corrected; Bias Still Bullish

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USD / JPY Corrected; Bias Still Bullish

Preferences: BULLISH

Reference Area: 110.28 (search for BULLISH signal confirmation)

Support: 109.28, 109.90

Resistance: 110.65, 110.88

Comments:

The movement of USDJPY is in BULLISH condition and currently the price is corrected after stuck firmly in resistance area. Note also, the stochastic indicator is in potential oversold condition. Based on forex analysis for today, if USDJPY move down and hold strong at support at 110.28 then look for confirmed BUY signal which there is potential price move back up towards resistance at 110.65 – 110.88. But if support at 110.28 penetrated that there is potential price will move down towards support at 109.90.

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