USD / JPY - Intraday consolidation within potential area for sales.

11.05.2016 / 14:16

Rating:

USD / JPY - Intraday consolidation in a narrow range.
The pair is in an area with great potential for sales.
Medium the bear trend still remains.
The so called "The anti-risk Japanese Yen" is ready for a new appreciation and at least market tension.
Break below 108.20 would provoke a decline towards 107.00 and 105.00 especially if there is no direct intervention from the BoJ.

An alternative is a short-term increase to 109.40 to 109.70. In case of breaking above 109,89 (Fibonacci 23,6% - Daily) will be possible strong bullish momentum.

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USD / JPY - Intraday consolidation within potential area for sales.

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