USD/JPY breaks minor resistance at 104.28, go long for 104.65
Offered tone around the JPY strengthened on account of the drop in the Brexit bets. The latest Brexit polls once again showed an overall lead for ‘Remain’ group.
USD/JPY edges higher from lows of 103.58. Price action is moving away from lower Bollinger Band on the daily charts.
Pair finds strong resistance by 5-DMA at 104.50, break above could see further upside.
Brexit related news flow along with Yellen's testimony which starts later today will be focus for clues on direction.
Techs on hourly charts support upside in the pair. Minor trendline resistance is seen at 104.28, break above will see test of 104.50 (5-DMA) and then 104.65.
Good to buy dips around 104.20/25, SL: 104, TP: 104.50/ 104.65
USD/JPY edges higher from lows of 103.58. Price action is moving away from lower Bollinger Band on the daily charts.
Pair finds strong resistance by 5-DMA at 104.50, break above could see further upside.
Brexit related news flow along with Yellen's testimony which starts later today will be focus for clues on direction.
Techs on hourly charts support upside in the pair. Minor trendline resistance is seen at 104.28, break above will see test of 104.50 (5-DMA) and then 104.65.
Good to buy dips around 104.20/25, SL: 104, TP: 104.50/ 104.65
Trade closed: target reached