Dollar strength

Friday was quiet due to Independence Day in the US. Now we are back to normal trading so welcome to another trading week.

Overnight the Dollar has been gaining ground and with the USDJPY pair we are near a fib reversal point along with some other characteristics of a reversal. However, as we all know trading is not so clear cut so we want to see a reversal or breakout before entering.

The chart below shows a 1 hour Dollar Yen and points out the resistance zone.


Chart courtesy of Advanced GET. Data provided by eSignal.

Good trading

Forex Analysts
Javid Shaik & Anne Chapman