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Key Resistance: 110.31
The UJ has been trading inside of a range for the past week but on the higher time frames we are seeing some very bullish momentum. This is why we are looking for buys in this market.
On the other side Japanese Yen futures continue to tumble and yesterday today they broke with last weeks lows signaling further downside continuation. ON the hourly we can see every day breaking the previous day’s lows for the past week of trading. This is very bearish.
Yen Futures going down is bullish for the USDJPY and we are looking at a buy at the break of today’s highs.
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