USDJPY Outlook for the next few days
The 200SMA on this pair has acted as support throughout February in what is a very ranging pair.
We see some selling pressure at 119.9, which is indicated to be holding.
Price action at the current level is indecisive, I could see us travel to 119.3 before bouncing back up as the overall trend is still up on this pair.
I would look for buying support to TP around the green arrow throughout the coming week, and enter to the upside here too.
Short 119.9 to 119.3, bounce back.
We see some selling pressure at 119.9, which is indicated to be holding.
Price action at the current level is indecisive, I could see us travel to 119.3 before bouncing back up as the overall trend is still up on this pair.
I would look for buying support to TP around the green arrow throughout the coming week, and enter to the upside here too.
Short 119.9 to 119.3, bounce back.
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