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USDJPY remains above 200-SMA and within upward channel
video USDJPY is holding above the key 137.90 level and the 200-day simple moving average (SMA), suggesting that more bullish actions could come within the short-term upward sloping channel. However, the technical oscillators are showing some weakness as the RSI is pointing down, failing to jump above the 70 level and the stochastic oscillator is flattening in the overbought region, indicating an overstretched market. In trend indicators, the bullish crossover within the 20- and the 50-day SMAs remains in place. Should USDJPY make another run higher, it’s likely to meet resistance at the 50.0% Fibonacci ... (full story)