USD/YEN Update – 27/06/2017 (11:30am) – by Arjun Lakhanpal

June 27, 2017 by

USD/YEN Update – 27/06/2017 (11:30am): USDJPY on the charts..The short term upside bias is intact following last week’s bullish reversal pattern as the focus turns to the next line of key resistance levels for signs of an extension. The focus stays on the 112.15 resistance zone which includes the late-May high. Again, this area will define whether a deeper short term recovery phase can develop and a closer test of the 113.00/10 area (76.4% retracement), if not the 114.37 May high. Near term pullbacks should find support at 110.95/65 area, while the 108.85/80 zone should hold to maintain the short term upside bias.