USDD/JPY bulls eye 156

12 Şub

A hot set of inflation figures from the US alongside risk-on outflows from then yen helped USD/JPY post its best daily gain of the year. While the daily chart shows Wednesday's high stalled at trend resistance, but the strong bullish trend on the 1-hour chart suggests its more likely we'll see an upside break of it than not.

The 50-day SMA at 155.22 makes a potential interim target for bulls, a break above which brings the monthly pivot point near the 156 handle into focus.

Matt Simpson, Market Analyst at City Index and Forex.com

14 Şub

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