USDD/JPY bulls eye 156
A hot set of inflation figures from the US alongside risk-on outflows from then yen helped USD/JPY post its best daily gain of the year. While the daily chart shows Wednesday's high stalled at trend resistance, but the strong bullish trend on the 1-hour chart suggests its more likely we'll see an upside break of it than not.
The 50-day SMA at 155.22 makes a potential interim target for bulls, a break above which brings the monthly pivot point near the 156 handle into focus.
Matt Simpson, Market Analyst at City Index and Forex.com
The 50-day SMA at 155.22 makes a potential interim target for bulls, a break above which brings the monthly pivot point near the 156 handle into focus.
Matt Simpson, Market Analyst at City Index and Forex.com
Trade closed: stop reached
Nope. Not my day... MS
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.