USD JPY Recoiled a bit on the session in Forex market
7/4/2017 4:17:58 PM
The dollar recoiled a bit against its yen, with the USD/JPY pair eroding part of previous session's strong gains to seven-week tops near mid-113.14s.
A presumption over retracement below 112.78 level is probable to pull the pair back towards 112.53 horizontal support, below which the slide could get expanded back towards the 112.06 handle.
On the upside, 113.34 level now becomes immediate persistence, which if conquered has the possible to continue improving the pair more towards 113.77 intermediate persistence on the way the 114.03 handle.
FOREX market analysis by FxErvin.