On Friday, the USD/JPY pair was few pips shy off before bouncing back up on a 30 minute time frame. The momentum changed hands from bears to bulls, as the price has gone above the 50 day (shown in green) but still below the 100-day (shown in yellow) moving average. The price was still trading well below the downward trend line, which means that the downward trend was intact.
The RSI traded in line with the price action, which meant that bias could be to the upside.
USD/JPY">
Important Levels
Resistance Zone
103-.70-103.19 Major
102.52-102.03 Major
100.44-99.93 Minor
99.48-99.14 Minor
Support Zone
93.04-92.48 Major
90.85-90.31 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