USD/JPY rebounds in tandem with the US Dollar. The price broke above critical bearish 50-HMA, eyes 100-HMA. Hourly RSI stays bullish, suggesting more gains ahead of US GDP. Broad-based US dollar rebound gathered pace in early Europe, putting a fresh bid under the USD/JPY, as the spot refreshes daily highs near 105.30. The greenback is retracing some of its post-dovish Fed losses, as investors reposition ahead of the US Q2 GDP data. The near-term technical outlook points to additional upside, especially after the price crossed the bearish 50-hourly Simple Moving Average (HMA) from below, located at 105.11. The hourly Relative Strength Index (RSI) inches higher around 62.50, suggesting that there is more room for gains. The next upside target is aligned at the bearish 100-HMA at 105.42, which could cap the renewed uptick. Acceptance above the latter could open doors for a test of Tuesday’s high at 105.68. Meanwhile, the recovery momentum will likely remain intact as long as the spot holds above the horizontal 21-HMA, now seen at 105.02. The four-month low of 104.77 could be put to test on a break below the 21-HMA support. USD/JPY: Hourly chart USD/JPY: Additional levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next S&P 500 Futures: Path of least resistance is up after the Fed, ahead of GDP- Confluence Detector FX Street 3 years USD/JPY rebounds in tandem with the US Dollar. The price broke above critical bearish 50-HMA, eyes 100-HMA. Hourly RSI stays bullish, suggesting more gains ahead of US GDP. Broad-based US dollar rebound gathered pace in early Europe, putting a fresh bid under the USD/JPY, as the spot refreshes daily highs near 105.30. The greenback is retracing some of its post-dovish Fed losses, as investors reposition ahead of the US Q2 GDP data. The near-term technical outlook points to additional upside, especially after the price crossed the bearish 50-hourly Simple Moving Average (HMA) from below, located at 105.11. The hourly… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
