USDJPY returns to losses; fragile below 50-SMA

USDJPY returns to losses; fragile below 50-SMA

From xm.com

video USDJPY closed Monday’s positive gap by rapidly falling to 131.00 on Tuesday after hitting a wall near the 50-day simple moving average (SMA) at 133.60. Another leg down would ruin the bull’s efforts for a trend reversal, but the pair could still maintain the soft ascent from 127.21 if it pivots within the 129.70-129.20 region represented by the 20-day SMA and the surface of the shorter-term bearish channel respectively. If not, the sell-off may continue towards the previous low of 127.21, while lower, some consolidation may occur near 126.00 before the way clears towards the channel’s lower boundary ... (full story)

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