US Dollar trending higher vs Japanese Yen, USDJPY above major 100 level

By CountingPips.com



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USDJPY: The US dollar gained against the Japanese yen for a third straight week last week and trades back above the major 100 yen level. The question for this week will be whether the 100.00 level holds as support for the US dollar and whether the USDJPY can continue to climb and test the highs of the year established in May. Looking out over this week the 100.00 level is the most obvious and important support level while potential resistance will be seen into 101.25 — 101.50 area and then at the 102.00 level.




Written by Zac Storella, CountingPips Forex Blog & Currency Pair Technical Analysis

 

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