USD Trading versus JPY in Forex market
12/18/2017 2:27:56 PM
The USDJPY pair rapidly retreated in Forex market an immediate reduction to 112.27 area and is currently located near the top end of its daily trading range.
A follow over buying interest beyond the 112.83-95 area now appears to boost the pair back towards pre-FOMC persistence near mid-113.11s, above which the momentum could more get expanded towards 113.75 supply zone.
On the other hand, 112.27 level now appears to have arisen as immediate support, which if broken would turn the pair at risk to break below the 112.07 handle and head towards testing the very important 180-day EMA support near the 111.60-55 area.
FOREX market analysis by FxErvin.