USD/JPY chart - Trading View
USD/JPY was trading 0.29% higher on the day at 106.48 at around 12:05 GMT, near-term outlook bullish.
The pair has broken above 21-EMA and had entered into daily cloud.
Oscillators have turned bullish. Stochs and RSI have turned bullish, RSI is showing strength above 50 mark.
Upbeat US data (which showed that the US manufacturing sector activity recorded the largest expansion in two-years) along with rise in UST yields underpinning the USD.
Focus now on U.S. Trade Balance, Jobless Claims and ISM Non-Manufacturing PMI data for impetus.
Technical studies have turned bullish for the near-term and break into daily cloud adds support.
Scope for test of 38.2% Fib at 107.95. Bullish invalidation on failure to hold above 21-EMA.
