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Chart - Courtesy Trading View
Technical Analysis: Bias Bullish
- USD/JPY was trading 0.20% higher on the day at 126.610 at around 09:10 GMT
- Momentum is bullish, Stochs and RSI are sharply higher
- Major moving averages are biased higher, GMMA indicator shows major and minor trend are bullish
- Price action is at 20-year highs, levels unseen since May 2002
Support levels - 126, 125.95 (5-DMA), 125.13 (200H MA)
Resistance levels - 127.07 (Upper BB), 128, 129.09 (May 2002 high)
Summary: USD/JPY bulls relentless, scope for further upside in the pair. Little resistance seen till 127 mark.
