USD/JPY- Technical Analysis – FX-Insights

ByNaeem Aslam - Chief Market Analyst linkedin, major, minor, resistance, rsi, support, supportsupport, that-the-bulls, usd, zones Comments Off

The USD/JPY is trading above its upward trend line on a 60 minute time frame. The pair is trading above the 100day (shown in yellow) moving average and the 50day (shown in green), which means that the bulls are in control of the price. The ADX indicator is not giving any clear signal at the moment, however, we do have slight negative divergence shown by the RSI which means that the bias could be to the downside.

Important Zones

Resistance Zone

103.67-103.40 Minor Support

102.97-102.68 Major Support

Support Zone

100.92-100.70 Major Resistance

99.78-99.54 Minor Resistance

Author

Naeem Aslam - Chief Market Analyst