USD/JPY: Dollar extends rally
The Dollar has continued rallying against the majors, according to ActionForex.com, on falling commodity prices: “USD/JPY’s rise from 104.96 continues today and extends further to as high as 107.75 so far. Further rally is still expected as long as 106.59 minor support holds. Though, with USD/JPY staying below 108.59 key medium term resistance, outlook remains mixed.”
On the downside, the ActionForex Team forecasts: “Otherwise, risk of another fall remains. On the downside, below 106.59 will argue that rebound from 104.98 has completed and turn intraday outlook neutral first.”
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