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USD/JPY Still Holds Momentum on Upside

STO

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USD/JPY popped higher last night as the French vote reduced risk mitigation but met resistance at the 23.6% retracement of the year to date sell off. Look for a move higher with resistance at 110.65.

USD/CAD rally from last week is stalling, lining up a reversion to the 38.2% Fibonacci level from the sell off since January at 1.3340 and beyond that the 200 day moving average at 1.3240.

This article comprises the personal view and opinion of the STO Investment Research Desk and at no time should be construed as Investment Advice.

STO Review

Source: https://www.stofs.com/en/newsroom/entry/TECHNICAL/usdjpy-still-holds-momentum-on-upside/?camp=24219
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