US dollars moved up very strong yesterday with almost 100 pips gain and closed above 105.00. This move supported by strong bullish momentum the day before and the weakness of GBP as well as other commodity currencies.
The selling pressure is increasing when there are signs of profit taking when USDJPY approaching toward 105.4, current yearly high level. We expect USDJPY will retrace lower below 105.00 today. However, with such a strong bullish momentum like this, any pull back will be opportunity to buy.
Forex Trading Signals:
We will waiting for signals to long US dollar if it pull back down t0 104.00 – 104.400 zone.
-105.00 – 105.400
-103.00 – 103.300