USDJPY Struggling to remain on top in Forex market
10/13/2017 9:11:55 AM
The dollar stayed on the back-foot versus JPY with the USDJPY pair getting the key 112.05 support.
A follow over decline below the 112.05 handle is probable to speed up the slide towards the very significant 150-day EMA support near the 111.85 area, below which the pair is probable to drop towards the 111.40-35 area.
On the upside, momentum beyond 112.33 immediate persistence might carry on to provoke some fresh supply near 112.53-65 area, which if cleared could boost the pair towards 112.86 level on the way 113.05 handle.
FOREX market analysis by FxErvin.