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1 Feb 2016
USD/JPY: bullish trend still in place - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet explained the recent price action surrounding USD/JPY.
Key Quotes:
"The pair showed little signs of life this Monday, falling down to 120.67 after the release of poor US data, but quickly recovering above the 121.00 level, ending the day around Friday's close.
The daily chart shows that the pair remained trapped between its 100 DMA, offering support around the mentioned low, and the 200 DMA, at 121.50, maintaining the latest bullish trend in place."
Key Quotes:
"The pair showed little signs of life this Monday, falling down to 120.67 after the release of poor US data, but quickly recovering above the 121.00 level, ending the day around Friday's close.
The daily chart shows that the pair remained trapped between its 100 DMA, offering support around the mentioned low, and the 200 DMA, at 121.50, maintaining the latest bullish trend in place."