“¢ The pair extended its sideways consolidative price-action and remained confied in a range bleow 50% Fibo. level of the 112.14-109.71 recent corrective slide.
“¢ The fact that the pair has managed to find acceptance above 200-hour SMA – for the first time in over a week, support prospects for additional intraday gains.
“¢ Moreover, oscillators on hourly charts have also started gaining traction and further add credence to the constructive outlook amid improving risk sentiment.
“¢ A sustained move beyond the 111.00 handle will reaffirm the bullish bias and lift the pair back towards testing the very important 200-day SMA, around mid-111.00s.
USD/JPY 1-hourly chart
-636894633686107923.png)
Share
