Technical Analysis – USDJPY bullish after break above 107 level and 200-day moving average
Posted on November 14, 2016 at 9:02 am GMTUSDJPY extended higher to hit a 5-month peak of 107.95 in early Monday trading. The break above the key psychological level of 107.00 and above the 200-day moving average today strengthens the bullish bias. The next target to the upside is at 108.75. This level is defined as the 78.6% Fibonacci retracement level of the May to June fall from 111.44 to 98.96. Above this, the key 111.00 level comes into view and from this level prices would target the [..]