ProFX_Strategist
Short

52-Period SMA Strong Resistance

FX:USDJPY   U.S. Dollar/Japanese Yen
24 0 5
Notes:

The 52-Period SMA is a very strong indicator of price trend (& the 26-Period Kijun-Sen EMA is the next strong).

USDJPY             is right now pushing against the very strong resistance of the 52-Period SMA (at this point) in the daily chart .

The trend has been down, strong, & consistent (if you noticed the past). (So is there a good possibility that price can be very-strong enough to turn the iron-solid 52-Period SMA around to the upside from now at this point...? Certainly looks like it is trying really hard to indeed...)

In addition, it is also crucial & important to note that the Kijun-Sen 26-Period EMA (a very strong indicator of trend) is still pointing down at this price point (with downwards momentum); & that is still looking very bearish currently...

We'll see how hard & high price can pull to anymore upsides before bouncing back downwards (a high-probability)...

Best regards.

*Dark (thick) Maroon colored line: 52-Period Simple-Moving-Average
*Maroon colored line (thinner): Kijun-Sen (26-Period Exponential-Moving-Average)
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