USDJPY attacks key resistance – Technical Analysis – 26-10-2015

The USDJPY pair continued to rise recently after being released from the negative pressure of the moving average 50, which led the price to 121.25 key resistance, this level limits the sideways trading that dominates the short term trading, attacking this level and trying to settle above it, with the attempts of getting rid of the overbought signals of stochastic, trying to gather positive momentum that assist it to breach this level.

Therefore, we will stay aside now waiting to monitor the price behavior according to 121.25 level, as breaching it will open the door to go for more rise, targeting 122.05 resistance.