Monday, March 9, 2015

USD/JPY break above 121.85 targets 123.00

[FOREX News] “As we highlighted yesterday, the break of the key 120.50 resistance last Friday signals the start of a bullish USD phase targeting last year’s high near 121.85.”

“In line with our expectations, USD continues to gain ground touching a high of 121.60 as of the time of writing.”

“Upward momentum is clearly very strong at this stage and a move above 121.85 will shift the focus to 123.00.”

“Trailing-stop is still at 119.60 for now but 120.30 is already a strong support.”

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