The USDJPY pair is trading above its 50 day (shown in green) and 100 day (shown in yellow) moving averages on a 30 minute time frame. The price action is also trading within the bullish channel which suggests that as long as the price does not break this channel to the downside, the USDJPY pair may keep on moving up. However, the RSI is suggesting that the bias could be to the downside because there is a deflection between the price and the RSI.
USD/JPY M30" title="USD/JPY M30" width="1422" height="754">
Important Zone
Resistance Zone
103.97-103.70 Major
103.33-103.11 Major
102.76-102.58 Minor
Support Zone
101.33-101.13 Minor
100.65-100.46 Major
99.32-99.12 Major
98.08-97.91 Major
DISCLOSURE & DISCLAIMER: The Above Is For Informational Purposes Only And Not To Be Construed As Specific Trading Advice. Responsibility For Trade Decisions Is Solely With The Reader.
by Naeem Aslam