Daily Forex Technicals |
Written by Windsor Brokers Ltd |
Nov 18 16 10:40 GMT
The pair came ticks ahead of 111.00 barrier on fresh extension of Thursday’s bullish acceleration that eventually broke and close above psychological 110.00 level. Steep multi-day ascend remains strongly underpinned by long-tailed 09 Nov daily candle, as rally was additionally boosted by break above 200SMA and double-Fibonacci barrier at 108.45.
Round-figure 111.00 barrier is in immediate focus, ahead of 111.36 (50% of larger 123.74/98.98 fall), as bulls eye strong barrier at 112.12 (weekly cloud base).
Overextended daily studies so far don’t show any signal of correction, with strong bids at 110.00 zone (near session low) and next good support laying at 108.53 (Thursday’s low / Fibo 23.6% of 101.17/110.91 rally).
Res: 111.00, 111.36, 111.87, 112.12
Sup: 110.40, 110.00, 109.74, 109.00
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USDJPY - Bulls Eye 111.00/36 Targets
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