USD/JPY Technical Analysis: Expectations for 140.00 Summit

Last week’s trading was in favor of the bulls’ strength and control over the direction of the USD/JPY currency pair, as the currency pair moved in this path towards the 137.24 resistance level, the highest for the currency pair in nearly a month. This performance restored the currency pair’s bullish expectations to move towards the psychological resistance level of 140.00 again. In the middle of last month’s trading, the dollar-yen pair jumped towards the resistance level of 139.38, the highest for the currency pair in 25 years. I often recommended buying the dollar-yen from every descending level until the currency pair fell towards the 130.40 support level at the beginning of this month’s trading.Advertisement

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