USD/JPY holds onto recovery gains from 200-day SMA. A descending trend line from May, an upward sloping resistance line since November in focus. Sustained break of the key Fibonacci level, bullish MACD favor further upside. USD/JPY extends the four-day-old winning streak to 109.90 during early Thursday. The pair stays on the front foot after clearing 61.8% Fibonacci retracement of its April-August 2019 fall whereas bullish MACD signal portrays the strength of upside momentum. While 110.00 round-figure could offer immediate resistance to the pair, a falling trend line since May 21, 2019, near 110.25, gains the major attention of buyers. Additionally, the pair’s upward trajectory beyond 110.25 could aim for a rising trend line that connects the tops marked in the last three months, at 110.55. On the flip side, sellers will refrain from entry unless prices slip below 109.53, comprising 61.8% Fibonacci retracement, on a daily closing basis. Even so, 50% Fibonacci retracement and 200-day SMA, around 108.65 and 108.38, can keep further declines questionable. USD/JPY daily chart Trend: Bullish 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 WTI rises above $52 as bulls ignore uptick in US oil inventories FX Street 2 years USD/JPY holds onto recovery gains from 200-day SMA. A descending trend line from May, an upward sloping resistance line since November in focus. Sustained break of the key Fibonacci level, bullish MACD favor further upside. USD/JPY extends the four-day-old winning streak to 109.90 during early Thursday. The pair stays on the front foot after clearing 61.8% Fibonacci retracement of its April-August 2019 fall whereas bullish MACD signal portrays the strength of upside momentum. While 110.00 round-figure could offer immediate resistance to the pair, a falling trend line since May 21, 2019, near 110.25, gains the major attention of buyers. Additionally,… 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.
