USDJPY technicals: USDJPY strikes above key MA goal. Can the consumers hold the momentum?

Final week, USDJPY spent a lot of its time trapped between key shifting averages on the Four-hour chart — with the 100-bar MA appearing as resistance and the 200-bar MA serving as help. This created a well-defined consolidation zone the place merchants have been ready for a decisive break to set the following directional bias.

As the brand new week begins, that breakout has come to the upside. Worth has pushed above the 100-bar MA at 147.84, shifting the technical bias in favor of consumers. The important thing now will probably be whether or not momentum can construct on this transfer, opening the door for a run towards greater resistance targets.

Within the video above, I break down this setup and stroll via why the transfer above the 100-bar MA alerts a shift in management towards the bulls — and what ranges to look at if follow-through shopping for takes maintain.

This text was written by Emma Wang at investinglive.com.