Friday 10 February 2017

USD/JPY Short-term Bullish

Yesterday the USD/JPY pair moved 131 pips higher after an amazing rally. Today we’re witnessing acceleration of the bulls’ strength as the pair is testing the 114.00 level. The positive bias is confirmed by crossing to above the bearish 20-day SMA. This breach undoubtedly will open doors to 115.00 region, where the 55-day SMA is acting as a resistance. On the daily chart technical indicators are firming the continuation of the upside run. Meanwhile bears visited several times the 111.50 area, where the 100-day SMA is acting as intermediate support, but yet can not enough power to pass through it. The near-term bias has shifted to bulls’ camp.  




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