Wed, Oct 05, 2022 @ 15:14 GMT

USD/JPY Upside Paused

USD/JPY increased little in the first hour and is fighting hard to stay higher and to recover after the yesterday’s drop. Price decreased and failed to reach and retest the median line (ml) of the blue ascending pitchfork, signaling an exhaustion. The Yen increased as the Nikkei stock index dropped after the impressive rally. USD/JPY is trading right above the 112.50 level and could move in range on the short term before will recapture more directional energy to be able to climb much higher.

MultiBank Exchange Group
MultiBank Exchange Grouphttp://www.mexgroup.com
Multibank Exchange Group (MEX Group) is a multinational financial derivatives dealer. Established in California in 2005, MEX has offices in several countries around the world, including the US, the UK, Australia and China. Mex Group is regulated by the Australian Securities and Investment Commission (ASIC) in Australia, the Ras al Khaimah Free Trade Zone (RAK) in the United Arab Emirates and the Financial Services Commission (FSC) in the British Virgin Islands.

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