USD JPY Declining to lowest rate
1/23/2017 3:50:16 PM
According to market trading the selling pressure around the dollar is collecting traction at the commencement of the week, now pushing USD/JPY to test fresh lows in the 113.25 area.
Spot is expanding the weakness for the 2nd session in a row on Monday, moving back to the 113.25 band after last week’s tops in the 115.57 area.
As mentioned above the pair is dropping 1.13% at 113.335 facing the next support at 112.57 ahead of 112.05 and the 111.67. On the upside, a break of 114.05 would pave the way 114.17 and then 115.65.
FOREX Fundamental Analysis
Written by FxErvin