USD/JPY – Trend reversal confirmed on weekly chart
The pair looks set to close the week above 104.32 (September high) levels. This would add credence to the breach of the falling trend line seen on the weekly RSI.
The weekly MACD has turned positive as well.
All those factors suggest the recovery from 100.00 levels has more substance than a regular technical correction.
The spot is likely to find support around 104.32 next week…On the higher side, monthly 200-MA of 105.83 could offer resistance, which if breached could yield 106.50-107.00 levels.
The weekly MACD has turned positive as well.
All those factors suggest the recovery from 100.00 levels has more substance than a regular technical correction.
The spot is likely to find support around 104.32 next week…On the higher side, monthly 200-MA of 105.83 could offer resistance, which if breached could yield 106.50-107.00 levels.
