USDJPY rallied again Thursday, marking a sixth consecutive session of higher highs for the pair. Despite being in overbought territory, current momentum suggests the USD still has the potential to extend this bull cycle. Upside targets shift higher to 122.47, the 2.382 projection of the Dec 3 - Jan 4 - 24 price swing as well as the Nov 18 2015 high of 123.76. Initial firm support is seen at 120.00.

Foreign Exchange Technical Analysis Homepage markets-real-time Bullet Markets Foreign Exchange News

Taso Anastasiou

Foreign Exchange Technical Analysis Homepage markets-real-time Bullet Markets Foreign Exchange News

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Bull Cycle Still Firmly Intact