Technical Analysis Signals Strong Bullish Trend for USD/JPY
Updated
In the past two days, USD/JPY has maintained below 152.00. However, after the release of the United States' Consumer Price Index (CPI) data, this currency pair underwent a sharp increase, surpassing the 152.00 threshold and reaching 152.64.
Based on technical indicators, we can observe that the USD/JPY price is experiencing a strong upward trend. This upward movement is illustrated by the price surpassing the Simple Moving Averages (SMA) by a significant margin, indicating a robust and stable uptrend.
Furthermore, the Relative Strength Index (RSI) is also indicating overbought conditions, suggesting that the market may undergo a short-term correction before a strong upward momentum resumes.
Based on technical indicators, we can observe that the USD/JPY price is experiencing a strong upward trend. This upward movement is illustrated by the price surpassing the Simple Moving Averages (SMA) by a significant margin, indicating a robust and stable uptrend.
Furthermore, the Relative Strength Index (RSI) is also indicating overbought conditions, suggesting that the market may undergo a short-term correction before a strong upward momentum resumes.
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