The Japanese Yen has taken a break from weakening against the US Dollar and the Euro after historical peaks in USD/JPY and EUR/JPY. Will the bullish trends resume? Get your market update from DanMcCarthyFX here:
Due to the speed of the bullish move, the current sell-off has not yet been able to cross below most SMAs.
A bullish triple moving average formation requires the price to be above the short term SMA, the latter to be above the medium term SMA and the medium term SMA to be above the long term SMA. All SMAs also need to have a positive gradient. Looking at any combination of the 10-, 21-, 34-, 55-, 100- and 200-day SMAs, the criteria for a bullish TMA have been met. The 34-day SMA has just crossed above the 55-day SMA.
So, while the Bollinger Bands might be suggesting that there could be further downside, the SMAs have potential underlying bullish momentum intact. The tussle between bullish and bearish signals may continue until either the price breaks below several SMAs, or the new high is taken out.In the bigger picture, a move below 130.39 would take out several support levels and might herald the end of significant Yen weakness. For now though, the ascending trend channel and underlying bullish momentum appear to be unimpaired.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
USD/JPY Price Analysis: Marches firmly towards 144.40 after elevated US CPIThe USD/JPY rallied after the US Department of Labor reported that inflation was decelerating but exceeding estimations, catching off USD/JPY traders
Weiterlesen »
USD/JPY bears take over and move in a critical support levelUSD/JPY is lower on the day as the US dollar comes under pressure ahead of the US inflation data that will be released later today in the New York ses
Weiterlesen »
USD/JPY trims intraday gains, back below 143.00 amid broad-based USD weaknessThe USD/JPY pair retreats nearly 90 pips from the daily high and drops back closer to mid-142.00s during the early European session on Monday. The US
Weiterlesen »
USD/JPY picks bids around 142.50, US Inflation in focusThe USD/JPY pair has sensed a decent buying interest around the immediate support of 142.50 in THE Asian session. The asset is aiming for a rebound as
Weiterlesen »
USD/JPY manages to hold above 142.00 mark, focus remains on US inflation dataThe USD/JPY pair comes under renewed selling pressure on Tuesday and drops to a fresh daily low during the early European session. Spot prices, howeve
Weiterlesen »
USD/JPY surges past mid-144.00s amid post-US CPI rally in USD and US bond yieldsThe USD/JPY pair witnessed a dramatic intraday turnaround and rallied over 200 pips during the early North American session following the release of U
Weiterlesen »