The USDJPY pair is trading above its upward trend line since it has bounced from its support zone (mentioned below) on a 60 minute time frame. The pair is also trading in an upward channel and has not violated this channel which further confirms that the upward trend is intact.
The RSI is trading in line with the price action which means that the bias could be to the downside in the short term.
Important Levels
99.01-98.74 Resistance Zone
97.06-96.82 Support Zone
Disclosure & Disclaimer:
The above is for informational purposes only and NOT to be construed as specific trading advice. responsibility for trade decisions is solely with the reader.
by Naeem Aslam