USD Trends Upwards Against JPY Forex USDJPY
Enter your emailAs things stand right now, the yen continues to lose value.This is typically a very bullish sign, so one would assume that we could very well go looking to the ¥130 level. The ¥130 level is an area that we have threatened previously and even managed to break above. However, we pulled back as the market had been overdone, which makes quite a bit of sense as things got out of hand. However, it now looks as if we are ready to go much higher.
Because of this, you need to keep an eye on whether or not we can break to a fresh, new high, because it’s likely that we will see more money flow into this market at that point. On the other hand, you also need to keep an eye on the 50-day EMA, because if we were to break down below that level then we might threaten the ¥125 level, an area that previously had been very resistant to buying pressure.
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