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USD/JPY bulls in control although sub Fib 38.2% resistance
FXStreet (Guatemala) - USD/JPY is currently trading at 119.65 with a high of 119.83 and a low of 119.14.
USD/JPY has remained better bid having broken the 119.20 previously, a bullish signal when closing above there recently and now the major will be looking for closes above the key 119.80 mark, through the Fib 38.2% at 119.74, if the bulls are to continue their triumphs for any sustained period of time, while otherwise the unit offers good two way business within the familiar ranges.
USD/JPY bulls could be looking for a close above the 120.84 high that was noted by Karen Jones, chief analyst at Commerzbank when it charted on the 13th April and she said this would be needed to trigger a move to the December and March highs at 121.86/122.04 are to be retested.
