USDJPY bounces off 100 bar MA on the Four-hour chart. Can the patrons hold the momentum?

The USD/JPY pair moved decrease through the morning U.S. session however discovered help on the rising 100-bar transferring common on the Four-hour chart (see decrease blue line on the chart above), the place sellers changed into patrons, driving the value larger.

• Present Motion:

  • The value is now testing the falling 100-hour transferring common at 154.73.
  • The 200-hour transferring common, simply above at 154.88, serves as the following key resistance.

• Bullish Outlook:

  • A sustained transfer above each the 100-hour and 200-hour transferring averages would reinforce a bullish bias.
  • Yesterday’s try to interrupt above these ranges failed, highlighting their significance as resistance factors.

• Context:

  • Since late October, value motion has fluctuated across the 100-hour and 200-hour transferring averages, signaling market indecision.
  • Nonetheless, the 100-bar transferring common on the Four-hour chart has remained a robust help degree, with solely minor and short-lived breaks on November 5-6 and earlier this week.

• Key Takeaway:

  • The 100-bar transferring common on the Four-hour chart stays important. So long as the value holds above this degree, patrons retain management (with the 100/200 hour MAs as different targets to the upside).
  • A break beneath this help MA at 153.88 with sustained momentum would shift the bias in the direction of bearishness.

This text was written by Emma Wang at www.ubaidahsan.com.



Source link