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

USDJPY : Will it Continue to Follow Uptrend ?

USDJPY seems like consolidating between the resistance at 102.69 and the rising support trend line. On the 4 hour chart, the 50 day SMA also seems like providing support to the pair. The upbeat US Data provided some boost to the pair and thus the pair rose from the support trend line. However the downbeat Unemployment Claims data capped the gains of the pair. Most probably the pair will find resistance at 102.69 and pause its gains. However if the pair continue to rise breaking this resistance level, the next resistance it will find will be at 102.93.

Now the pair might also reverse the uptrend to downtrend by breaking out from the support trend line. If the pair breaks out from the support trend line the pair will find the next support at 102.13.