The below is the daily chart of USDJPY. Further to yesterday’s article we note that the EMAs are in a bullish stack. The green 5-day EMA is above the orange 13-day EMA, and the orange 13-day EMA is above the black 34-day EMA (red rectangle). The RSI(9) is above 50 and indicative of an underlying bullish momentum (blue rectangle). The EMAs are currently converging. For the currency pair to appreciate, they will need to develop more angle and separation. We continue to monitor.

USDJPY

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