USD fell near weekly lows versus JPY
3/8/2017 3:01:00 PM
According to forex market the USD/JPY fell nearer to weekly lows and is now trading near 113.57 level.
Bears would be targeting for a significant break below 113.57 immediate support, below which the pair is probable to expand the weakening move towards 113.27 horizontal support on the way 112.86 strong support area.
On the upside, momentum above 113.88 area might keep on to provoke strong persistent at 45-day SMA near 114.15 area, which if cleared conclusively is likely to cause a short-covering rally towards beyond mid-114.03s towards testing Friday's 2 week high persistence near 114.77 level.
FOREX market analysis by FxErvin.