USDJPY (1H) - short term bullish bias
The Japanese yen came under pressure against most major pairs, which allowed the greenback to recoup its losses from yesterday. The price is now testing the resistance level of 107.45 again and perhaps as the saying goes, third time is a charm. The RSI has remained in the neutral area while the faster moving average crossed above the slower one in a typical bullish fashion. A break above the aforementioned level could trigger a broader rally towards 107.80.
Key support: 107.00
Key resistance: 107.45/107.85
The Japanese yen came under pressure against most major pairs, which allowed the greenback to recoup its losses from yesterday. The price is now testing the resistance level of 107.45 again and perhaps as the saying goes, third time is a charm. The RSI has remained in the neutral area while the faster moving average crossed above the slower one in a typical bullish fashion. A break above the aforementioned level could trigger a broader rally towards 107.80.
Key support: 107.00
Key resistance: 107.45/107.85
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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.