USD tried to develop session versus JPY
4/18/2017 9:17:19 AM
During the Forex Market, the USD/JPY pair tried to develop previous session's recovery move from several month lows, although has managed to hold in positive territory for the second successive session around the 108.90 handle.
Momentum above 109.25 area is probable to provoke persistence near 109.44 level, above which a bout of short-covering could boost the pair back toward the key 110.05psychological mark.
On the weakness, retracement returned below 108.93 level is probable to get expanded towards 108.57 horizontal support, which if broken should turn the pair at risk to break below multi-week low level and head towards testing the 108.03 handle.
FOREX market analysis by FxErvin.