What’s changed from yesterday?

Posted Friday, July 8, 2016 by
Skerdian Meta • 1 min read

Yesterday was a pretty quiet day. The range in most forex pair was minimal comparing to the last two weeks, so there was no breakout or a breakout setup which would lead to a large move today. This morning the forex market is pretty much the same, or even quieter I must say. So the support/resistance levels remain the same as yesterday.

USD/JPY is slowly creeping toward the 100 level

The Japanese Yen is clearly in an uptrend but it´s not going anywhere fast at the moment. The 100 support level in USD/JPY is still holding. The price is always getting closer and closer to it and we know what that usually means in forex, if a support/resistance level is tested to many times sooner or later it will have to let go. On the other hand, if it doesn´t get broken soon enough in the coming sessions/days then the bears might through the towel and the bulls will take over. And there´s always the Bank of Japan (BOJ) around the corner. 

Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
Trade better, discover more Forex Trading Strategies
Related Articles
0 0 vote
Article Rating
Notify of
Inline Feedbacks
View all comments