The USDJPY has announced higher after all and below the low from last Wednesday at 140.71 but stalling ahead of the December 2023 low price at 140.248. The low price reached 140.43.
With the price back above the 100-hour moving average at 141.07, it keeps the buyers in play. However, they will still need to get above the 200-hour moving average and the swing area between 141.69 and 141.942. Between the 100 and 200 hour MA is or more neutral in the short term at least.
This article was written by Greg Michalowski at www.forexlive.com.
Recent Posts
Categories
Related Articles
Fed’s Harker: The Fed has done a good job in navigating the economy
There is nothing here on the current outlook in the speech. He's...
Baker Hughes US oil rig count: Unchanged at 488
The recent drop in oil prices hasn't curbed drilling yet but could...
Fed’s Bowman explains dissent. Says she would have preferred a smaller rate cut
Sees progress on inflation and labor market cooling since mid-2023Believes smaller initial...
Morgan Stanley: We expect a string Fed cuts through mid-2025; staying short USD/JPY
Morgan Stanley anticipates a series of 25bp cuts from the Federal Reserve...
Leave a comment