The week was positive for the greenback. The US dollar index managed to set new highs near $93.50.
USD/JPY: forecast for March 27-31
50-day MA went below the 100-day one – a bearish sign. Below 111.50 USD/JPY looks vulnerable for a decline to 100.25/00 (200-week MA, psychological support). Next support is at 109.10. At the same time, the pair has got oversold, so minor recoveries are possible. Only above 111.60 the pair will get a chance to revisit the next hurdles at 112.50 and then 113.40.
The pound is highly volatile after a Brexit referendum. Have a look what other factors affect the UK currency. And get clues on future movements of GBP.
This is Forex trading plan for Thursday, May 24…
It seems like the rally of the greenback has ended. On Monday, the US dollar index tested levels near $94, however, closed below $93.50.