USD/JPY on the way to reach new highs

USD/JPY on the way to reach new highs

USD/JPY continues to trade in a bullish recovery since February 16th lows and it seems we could expect further gains across the board, as the price action remains above the 200 SMA at H1 chart. If the pair manages to break above the February 27th highs, the next target would be the February 21st highs at 107.89. Keep in mind that next mid-term target lies at 108.45, where is located the Fibonacci target of -23.6%.

RSI indicator remains slightly in the negative territory.



Latest news

GBP/USD: confirmed "Thorn" pattern

The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...


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