USD/JPY: market consolidating along Moving Average

USD/JPY: market consolidating along Moving Average


The market is still consolidating along the Moving Average. The main intraday target is the lower 'Window' (110.94). A pullback from this level could be a starting point for another bullish price movement.


The last 'Shooting Star' led to the current decline. It's likely that the pair is going test the next support at 110.94. If a pullback from this level happens next, there'll be a moment for an upward price movement in the direction of the closest significant resistance 111.74.



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The outlook for the GBP

The British pound has been enjoying itself versus the other major currencies during the past weeks. WIll the advance of the GBP continue?

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