USDJPY – Bulls Extend And Crack 108.25/49 Fibo Resistance Zone

USDJPY – Bulls Extend And Crack 108.25/49 Fibo Resistance Zone

Bulls accelerated through psychological 108 barrier and cracked target at 108.25 (Fibo 61.8% of 110.48/104.63 bear-leg), the lower boundary of Fibo resistances zone between 108.25 and 108.49 (Fibo 38.2% of 114.73/104.63 fall).

Break and close above these barriers would generate strong bullish signal and open way for test of 109.02 (falling 100SMA) and more significant barrier provided by top of thick daily cloud at 109.31.

Bullish techs are supported by positive dollar’s sentiment and expected to further underpin the advance.

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Broken Fibo barrier at 107.56 now acts as support and should keep the downside protected.

Res: 108.49, 108.77, 109.02, 109.31
Sup: 107.77, 107.56, 107.31, 106.92



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