Sasha Singh
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USDJPY : Bullish Trend Continues

(USDJPY : 4 Hour Chart)

USDJPY is currently signaling a bullish trend. The pair is trading within an ascending triangle experiencing resistance at 102.72 and support from the rising support trend line. The 50 Day SMA crossed the 100 day and 200 day SMAs earlier and now moving higher. However the 100 day SMA is contracting towards 200 day SMA to move above it, if this happens the pair should continue to move in upward direction breaking the resistance at 102.72. The pair is experiencing the support from the rising support trend line since 21 May and might continue to provide support to the pair. Fundamentally the pair seems supported after the nonfarm payrolls report showed that the US economy is improving.