USD/JPY Outlook (30 August 2022)
The USDJPY climbed off the 23.6% fib level and the 136.50 price level to reach the immediate resistance level of 138.87. This move higher was driven by the strength of the DXY and the hawkish comments from the Federal Reserve.
Interest to note, golden cross; where the 50MA crosses over the 200MA have formed, indicates a potentially significant upside move.
Look for the price to break above the 139.40 price level to signal a continuation of the upside towards the next resistance of 141.39.
Interest to note, golden cross; where the 50MA crosses over the 200MA have formed, indicates a potentially significant upside move.
Look for the price to break above the 139.40 price level to signal a continuation of the upside towards the next resistance of 141.39.
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