CURRENCY INVESTORS Japanese Yen Dropping The USDJPY decreased 0.7200 or 0.64% to 111.1700 on Friday July 21 from 111.8900 in the previous trading session. Historically, the Japanese Yen reached an all time high of 306.84 in December of 1975 and a record low of 75.74 in October of 2011.
Although the greenback has fallen again after brief bounce above 112.00 level and downside risk remains for recent decline from 114.50 top to extend weakness to 111.20-25, however, reckon 110.90-00 would hold from here due to near term oversold condition, bring rebound later.
In view of this, would not chase this fall here and would be prudent to stand aside in the meantime. Above the Kijun-Sen (now at 111.81) would suggest an intra-day low is possibly formed but break of resistance at 112.08 is needed to signal low is formed, bring a stronger rebound to indicated resistance at 112.42 next.
|111.17||111.88||306.84||75.74||1972 – 2017||Daily|
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