USD/JPY Intraday: Look for 157.75
USD/JPY (USD/JPY)
+1.891+1.21%
The upside prevails as long as 156.11 is support, with 157.75 and 158.11 as targets
Our pivot point is at 156.11.
Our preference: The upside prevails as long as 156.11 is support, with 157.75 and 158.11 as targets
Alternative scenario: below 156.11, expect 155.52 and 155.17.
Comment: the RSI is above 70. It could mean either that the price is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is above its signal line and positive. The price is above its 20 and 50 period moving average (respectively at 156.29 and 155.99). The USD/JPY is trading above its upper Bollinger band (standing at 157.12).
Supports and resistances:
158.46 *
158.11 **
157.75
157.13 last
156.11 **
155.52 *
155.17 **
Our preference: The upside prevails as long as 156.11 is support, with 157.75 and 158.11 as targets
Alternative scenario: below 156.11, expect 155.52 and 155.17.
Comment: the RSI is above 70. It could mean either that the price is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is above its signal line and positive. The price is above its 20 and 50 period moving average (respectively at 156.29 and 155.99). The USD/JPY is trading above its upper Bollinger band (standing at 157.12).
Supports and resistances:
158.46 *
158.11 **
157.75
157.13 last
156.11 **
155.52 *
155.17 **
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