Sasha Singh
All posts from Sasha Singh
Sasha Singh in Sasha Singh,

USDJPY : Testing Resistance From 100 day SMA

USDJPY broke the key resistance at 102.68 after the release of upbeat US Non Farm Payroll data giving a bullish signal that the pair might go up to 103.24. Looking at the daily chart, we can see that the pair broke the resistance of the ascending triangle within which the pair was trading prior to the release of the data. Now the pair is trying to move up passing the 100 day SMA. Crossing this SMA might open the opportunity for the pair to rise up to 103.24. The previous resistance at 102.68 will now be acting as support for the pair.