USDJPY in the previous week ended in a doji formation suggesting indecision after a sustained downtrend in the past few weeks. The doji has formed near the multiple support zone of 104.00 which has been tested many times, suggesting the currency could form a bottom at 104.00 from where it could rebound in the near term. On the daily charts as well the pair is making a potential double bottom supporting the above observation, RSI is rising corroborating the above view and suggesting a rise for dollar yen. It would be safe to say that USDJPY could rise towards 105.20 & 105.70 while it sustains above 103.90.
Technical Analysis Team
Offering state of the art execution services through multiple top-tier liquidity providers. Abans Global provides you with a tailor-made solution to match the demanding requirements of your business, with the multi-assets offering, advanced trading platforms and FIX API connectivity that provides ultra-low latency.