Sun, Apr 18, 2021 @ 12:09 GMT
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USD/JPY Could Trade Downwards

During today’s morning hours, the USD/JPY currency pair reversed north from the 104.95 mark.

It is unlikely that some upside potential could prevail in the market due to the resistance area formed by the 55-, 100– and 200-hour moving averages, as well the weekly PP in the 105.40/105.60 range.

Therefore, it is likely that the exchange rate could trade downwards in the nearest future. Note that the rate could gain support from the weekly S1 at 104.86. if the given level holds, the pair could consolidate.



Dukascopy Swiss FX Group
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