USD/JPY trying to push higher in the short-term

Read the article on FBS website

USD/JPY has been riding a bullish sequence above the 200 SMA at H1 chart and the 50 SMA is helping to cap further gains across the board. Due to the current position of the 200-hour moving average in the H1 chart, it’s expected to see a decline to take place towards the Fibonacci level of 50% at 106.57. If the pair manages to make a rebound over there, then the focus should shift to the -23.6% Fibonacci zone.

RSI indicator stays in the positive territory, favoring to the bulls’ momentum in the short-term.

USDJPYH1.png

Share with friends:

Similar

Latest news

Instant opening

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.