USDJPY bounced off 131.25-50 horizontal support area despite multiple failures to cross the 50-DMA, not to forget the monthly resistance line. The recovery moves, however, appear to lack support from the oscillators, which in turn suggests another play of inability to cross the aforementioned key hurdles. Even if the quote manages to cross the one-month-old...
USDJPY sustains upside break of a weekly resistance line, now support around 134.85, as bulls brace for the fresh multi-year high, currently around 136.70. In doing so, the yen pair could aim for the 61.8% Fibonacci Expansion (FE) of May 24 to June 16 moves, near 137.20. However, a convergence of the 78.6% FE and the upper line of the monthly bullish channel, near...
A clear downside break of the fortnight-old support line, favored USDJPY bears in the last few days. However, a convergence of the 100-EMA and 38.2% Fibonacci retracement of May 24 to June 14 upside, around 132.00, seemed to have triggered the latest rebound. Also acting as short-term key support is a horizontal area comprising tops marked during late April and...