USD/JPY on the way to reach new highs

USD/JPY on the way to reach new highs

USD/JPY is following a bullish sequence above the 200 SMA at H1 chart and has already made a rebound above that moving average. Such level coincides with the Fibonacci area of 50% at 112.35, at which the pair is gathering momentum to continue with the bullish path. If it manages to break above September 27th highs, we can expect an advance towards the -23.6% level at 113.66.

RSI indicator is pointing to the upside, as it remains in the positive territory.

USDJPYmH1.png

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