AvaTrade - Analytics

    AvaTrade

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    USD/JPY/ Upward momentum continues

    The USD/JPY is trading above its upward trend line on a 30 minute time frame. However, the price is trading above 100 day moving average which means that the bulls are still in control of the price but the price is also trading below the 50 day moving average and this reflects the bulls are losing their control. The price is trading within the Bollinger band and also close enough to its 20 day moving average and this shows that the volatility is also low.

    The MACD and the RSI indicators are trading in line with the price action and this also a reflection that the price will continue its trend towards the downside.

    Screen Shot 2015-04-19 at 23.40.39

    Important Zones

    1.4831-1.4808 Support

    1.4634- 1.4604 Support

    1.5002-1.5049 Resistance


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