USD JPY sticks to moving high in Forex market
7/7/2017 2:23:47 PM
The USD/JPY pair was seen merging Asian session meeting to near 3 month highs and was last seen trading around 113.72 band.
The pair has now broken out of three day old trading range and also appears to have established a fresh bullish break through a short-term descendent trend line persistence near 113.34 area, therefore growing views for a further near-term appreciating move.
A day end close above 113.73 would open doors for rally to 115.52. Dip to 10-EMA of 112.83 because of weak US income growth figures is probable, though it would be short lived, given the 5-EMA and 10-EMA are still inclined upwards.
FOREX market analysis by FxErvin.