USD versus JPY could achieved to improve
2/23/2017 11:10:06 AM
During Forex market activities, the USD/JPY pair traded with slight descending bias for more than one time but could achieved to stand above113.03 handle.
Currently trading around 113.25 area, the pair held up overnight rebound back from 112.93 level near mid-113.03s area among common risk-off mood as showed by negative trading sentiment surrounding Asian equity markets.
On a continued decline below 113.03 handle, leading to a following fall below 112.88 level, appears to expand the downslide towards 112.35 horizontal support before the pair finally falls back to 112.05 handle.
In the meantime on the upside, momentum above 113.47 zone is likely to provoke persistence near 113.77 area above which the pair is likely to exceed 114.03 handle and head towards testing its next persistence near 114.27 area.
FOREX market analysis by FxErvin.