“¢ Despite the prevalent USD selling bias, the pair showed some resilience near a short-term ascending trend-line support and has now managed to recover the early lost ground. “¢ With technical indicators on the 1-hourly chart gaining positive momentum, a move back above 200-hour SMA might be seen as a key trigger for intraday bullish traders. USD/JPY 1-hourly chart “¢ Looking at a slightly higher time frame, the pair’s inability to find acceptance below 2-1/2 month old ascending trend-line suggests bearish reluctance to place any aggressive bets. 8-hourly chart “¢ The set-up gradually seems to be shifting in favour of bullish traders and hence, a move back towards reclaiming the 112.00 handle now looks a distinct possibility. “¢ However, a convincing break below the mentioned support, currently near the 111.15 region, will negate the constructive outlook and prompt some fresh technical selling. 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 USD/CAD Technical Analysis: Greenback heading towards 1.3200 figure against CAD FX Street 4 years "¢ Despite the prevalent USD selling bias, the pair showed some resilience near a short-term ascending trend-line support and has now managed to recover the early lost ground. "¢ With technical indicators on the 1-hourly chart gaining positive momentum, a move back above 200-hour SMA might be seen as a key trigger for intraday bullish traders. USD/JPY 1-hourly chart "¢ Looking at a slightly higher time frame, the pair's inability to find acceptance below 2-1/2 month old ascending trend-line suggests bearish reluctance to place any aggressive bets. 8-hourly chart "¢ The set-up… 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.
