Risk appetite spreads across the board, yet USD/JPY seems to be delayed compared to its pairs. Quoting around 90.35, the downside has been capped by the 90.15 level, where we have the 100 daily SMA. Further rises in stocks, futures and gold, seen due to general market optimism, likely to send the pair higher, also supported by hourly charts that reached oversold conditions at daily low, and point for an upside corrective movement.
Back to test the 90.80 area will likely signal an acceleration in the pair, with first resistance/target area to consider, around 91.30, followed then by 91.65. Under 90.10 , pair should suffer some bearish pressure and test the 89.70/80 zone.
Back to test the 90.80 area will likely signal an acceleration in the pair, with first resistance/target area to consider, around 91.30, followed then by 91.65. Under 90.10 , pair should suffer some bearish pressure and test the 89.70/80 zone.
