Oct 30 2018

USDJPY – Technical Outlook

USDJPY:-On the daily chart – Andrews pitch fork tool is applied, in which the pair seems moving towards the middle band of pitchfork tool. The mid band resistance of the same is coming at around 113.29 mark. Momentum indicators are looking bullish too, as Relative Strength Index of 14 days has came above the 50 mark – an indication of bull signal. MACD line and signal line crossed along with each other above the zero-line. On the conservative break above the mid line resistance, will open the doors for USDJPY to test the upper band of fork tool. According to the studies, the immediate targets for USDJPY is at around 113.26 and later on the conservative break of 1st zone we can probably see the pair to move towards 115 mark.