USDJPY sellers can’t take more control

Technical Analysis

Buyers keep the pressure on sellers

The USDJPY is trading at the day’s highs (making a new high as I type) after the NY session correction could not get below the 110.278 area (or rising 100 bar MA on the 5-minute chart).  In a earlier post, I commented that the level needed to break to tilt the bias more to the downside. That could not be done. Buyers remain in control. 

The corrective low for the NY session could only reach 110.31.  

Buyers remain in control. 

Looking at the daily chart, the pair is trading away from the 110.374 level (high of swing levels The 110.81, and 200 day MA at 111.244 are upside targets on the daily chart now.

USDJPY daily chart is showing buyers above 110.37

ForexLive

Products You May Like

Articles You May Like

How is Australia’s Jobs Situation Shaping Up?
Forex Trading for Beginners – How to trade EURNZD
If Sanctions Cut Iran’s Oil Exports To Zero, Would Saudi Arabia Really Fill The Void?
GBP/USD struggles near 1.3035/30 amid lack of Brexit headlines, UK retail sales in the spotlight
US weekly oil inventories -1396K vs +2300K expected

Leave a Reply

Your email address will not be published. Required fields are marked *