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Daily Report: USD/JPY set to end winning streak

Daily Report: USD/JPY set to end winning streak

USD/JPY Direct Direction

Having noted price movement testing the mettle of weekly resistance at ¥137.23 and daily price on the verge of reclaiming space back under the 200-day simple moving average (aided by an RSI oversold signal), this appears to be a sellers’ market for the time being, at least technically speaking.

While there is a chance that weekly price could spike to its 100% projection at ¥140.34, H1 sellers may hold the underside of the current resistance at ¥136.79-¥136.58 and attempt to push for ¥136.

USD/JPY on Track to Snap Winning Streak, FP MarketsCharts: TradingView

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