USD/JPY is flashing red but remains in a bullish territory on the daily chart. A flag breakout confirmed on Tuesday is still valid. The pair remains on track to test key resistance at 109.06. The USD/JPY pair is currently trading near 108.70, representing 0.15% losses on the day. The pair has come under pressure in the Asian session, possibly due to the Sino-Us political friction and the haven demand for the anti-risk Yen. Even so, the technical bias remains bullish as a bull flag breakout confirmed on Tuesday is still valid. The flag breakout is a continuation pattern that usually accelerates the preceding bullish move (104.45 to 108.48). The pair, therefore, looks set to test the 200-day moving average (MA) hurdle at 109.06. The bullish case looks stronger if we take into account the ascending 5- and 10-day MAs and the above-50 reading on the relative strength index. Further, the MACD histogram is printing higher bars above the zero line, signaling a strengthening of bullish momentum. Daily chart Trend: Bullish Technical 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 Bitcoin price analysis: BTC/USD bear flag pattern heightens the risk for more declines FX Street 4 years USD/JPY is flashing red but remains in a bullish territory on the daily chart. A flag breakout confirmed on Tuesday is still valid. The pair remains on track to test key resistance at 109.06. The USD/JPY pair is currently trading near 108.70, representing 0.15% losses on the day. The pair has come under pressure in the Asian session, possibly due to the Sino-Us political friction and the haven demand for the anti-risk Yen. Even so, the technical bias remains bullish as a bull flag breakout confirmed on Tuesday is still valid. The flag breakout is… 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.
