Recommendation Sell at High. The resistance level is 133.50, support level is 131.00.
The USD/JPY pair fails to capitalize on the previous day's solid recovery of over 200 pips from its lowest level since February 14 and comes under some renewed selling pressure on Friday. The pair, however, manages to rebound a few pips from the daily low touched during the early European session and now trades above the 133.00 mark, still down nearly 0.40% for the day. Market is likely to go down for now.
Due to the timeliness and market volatility, the above analyses may no longer be valid, and hence for reference only.
Disclaimer: This material is considered a marketing communication and does not contain, and should not be deemed to contain, investment advice, or an offer or solicitation of any transaction in a financial instrument. Past performance is not indicative of future results.