USDJPY bounces off the low from yesterday ...Middle East

On the upside, the first target comes in at the March 11 low near 146.53. A break - and staying above - shifts focus to the next resistance zone between 147.20 and 147.34. Beyond that, the high from earlier this week — near 148.20 — stands as the next key level to watch.

As long as USDJPY holds above 144.45, buyers may look to build on the bounce and challenge these upside targets. A move back below would shift the focus once again toward the yearly low at 143.99. Give below that level and there's not a lot of support until 141.69 to 141.94.

This article was written by Greg Michalowski at www.forexlive.com.

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