The USD/JPY
has been rallying lately as the risk appetite keeps growing in the markets and
it is making the Yen less attractive as a safe haven currency. On the daily
chart we can see how the price rallies to the 55 day exponential moving
average, purple line, around the 105.41 level and stalls there. The price may
try to bounce to the downside from here and if it does so, it may try to go and
visit the 104.00 level or the 103.00 level. Below the 103.00 level, the next
support could be the 100.00 level. To the upside, the next resistance above the
55 day EMA could be the 107.00 level or the 109.00 level.
Thank you for the analysis.
ReplyDeleteVery little missing to test the maximum of the Brexit day.
ReplyDeleteGreat analysis, as usual!
ReplyDeleteI'll keep those levels in mind.
ReplyDeleteWe may see a pullback before another move upward.
ReplyDeleteVery informative article, thanks for sharing!
ReplyDeleteGood analysis as always!
ReplyDeleteThe pair might be testing 106.00 again.
ReplyDelete