USD/JPY closed higher due to profit taking on Thursday but remains above the 20-day moving average crossing. The high-range close sets the stage for a steady to higher opening on Friday. Stochastics and the RSI are bearish signalling that sideways to lower prices are possible near-term. If it extends this week's decline, the reaction high crossing is the next downside target. Closes above the 10-day moving average crossing at would temper the near-term unfriendly outlook.
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