Central Banks' decisions from past days boosted USD/JPY and
today the pair marked fresh new two weeks high at 111.40. Fed announced that
will lift up the interest rate with another 0.25 and BoJ hinted about a chance in
the future to retrieve easing and holding the monetary policy steady.
However, the optimistic mood didn’t last long and ahead of
Wall Street opening the pair dropped to currently trade at 110.74. It seems
that bulls couldn’t conquer the critical resistance at 111.50, where now is
located the 200-day SMA.
The four-hour time frame is showing bullish 20-day SMA while the 100-day SMA is
staying flat at 110.45 and is acting as a dynamic support.
RSI and stochastic had retreated from the extreme overbought territory. Both
are yet well above their mid-lines but has started to turn to south.
As the pair broke the support at 110.90, doors are now opened for testing the
next one at 110.56 (the intraday low).
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