Appears to be like to remain above the “Pink Field” and look towards the February highs
In an earlier put up, I characterised the USDJPY as being caught within the mud. Nonetheless, I famous that the value was staying above the 200 and 100 hour MAs and we as merchants want to make use of the wiggles and waggles to anticipate a transfer…..Nicely, the value has moved.
We have now moved exterior the “Pink Field” that outlined the vary during the last three+ days. The excessive space of that vary got here in at 110.89-94. Keep above and outdoors that pink field, retains the patrons in management. Shut danger for longs now. For the patrons under, you’ve some pips to play with.
The highs from Feb 14 are the subsequent targets at 111.124. A transfer above that stage and the 200 day MA at 111.294 and 100 day MA at 111.481 space the subsequent key targets (see each day chart under). These MAs on the primary take a look at, ought to put up a technical battle. It is going to be a troublesome nut to crack.