FXstreet.com (Barcelona) - After finding support at 97.70, the Dollar recovery against the Yen has successfully broken the 98.00 level and the pair has tested intra-day high at 98.30. Currently the USD/JPY is trading around 98.20/30, recovering its initial loses and trader at the same numbers of opening price.
Ian G Coleman, FXstreet.com contributor, sees bullish signs on the daily chart: "USDJPY- We had a green candle yesterday but it is engulfed by Tuesdays down candle. Moving averages are ‘in order’ to buy. We have previous highs at 9982 then 9974. We have broken the momentum trend line to the upside. We came back to retest the trend line where we had a bounce higher. The MACD is trying to break to the top side. We are in a small up channel that looks impulsive at 49 degrees. We are holding the top of the Bollinger Band."
Ian G Coleman, FXstreet.com contributor, sees bullish signs on the daily chart: "USDJPY- We had a green candle yesterday but it is engulfed by Tuesdays down candle. Moving averages are ‘in order’ to buy. We have previous highs at 9982 then 9974. We have broken the momentum trend line to the upside. We came back to retest the trend line where we had a bounce higher. The MACD is trying to break to the top side. We are in a small up channel that looks impulsive at 49 degrees. We are holding the top of the Bollinger Band."
