The news tonight said about Japanís termination of purchases of company bonds, I think this is a signal to buy the yen, the main thing so as not to frighten buyers.
USDJPY breaks above 110; looks bullish in short-term
USDJPY cleared the 110 level on Monday and broke slightly above the 50-day moving average (MA) on Tuesday to reach a six-week high of 110.64. The pair is also trading comfortably above the 20-day MA and the Ichimoku cloud, giving positive trend signals for the short-term. Momentum indicators are also in bullish territory, with the red Tenkan-sen line improving above the blue Kijun-sen line and the RSI increasing steam after the rebound on the 50 neutral threshold. The fast Stochastics, though, are still close to the 80 overbought mark, warning that the bears might be around the corner. Should bullish pressure violate the 61.8% ... (full story)
- Posted: Feb 12, 2019 5:47am
- Submitted by:Category: Technical AnalysisComments: 1 / Views: 557