USDJPY likely to rise towards 105.00
USDJPY has been trading in small body candlestick formations since the last few trading sessions after it found support near 103.70 levels, which is its strong support zone signifying a rebound in the offing. On the weekly charts as well dollar yen has been trading in small body candlestick formations suggesting the down trend to have likely ended and a support for the pair below current levels. The currency pair could rise towards 104.80 and 105.00 while it sustains above 103.80.
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Risk Disclaimer:
Trading Forex or any CFD products may not be suitable to all investors and they must evaluate their risk appetite. The above article should not be construed as a trading or investment advice as it is solely for education and information purpose only. Trading might incur a loss of capital and hence investors might be required to gain further knowledge regarding the risks involved. Leverage should be used wisely.
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