Breaking News
Investing Pro 0
Cyber Monday SALE: Up to 54% OFF InvestingPro+ CLAIM OFFER

USD/JPY Resumes Rebound But 50-Day SMA Caps Advance

By XM Group (Trading Point )ForexAug 10, 2022 04:19AM ET
www.investing.com/analysis/usdjpy-resumes-rebound-but-50day-sma-caps-advance-200628305
USD/JPY Resumes Rebound But 50-Day SMA Caps Advance
By XM Group (Trading Point )   |  Aug 10, 2022 04:19AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
 
USD/JPY
-0.93%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

USDJPY has been gaining some ground in the short-term after its latest decline came to a halt at the 130.40 region. However, the recent price recovery has been repeatedly held down by the ascending 50-day simple moving average (SMA).

The momentum indicators suggest that near-term risks are tilted to the upside. Specifically, the stochastic oscillator is flatlining in its 80-overbought area, while the MACD histogram has jumped above its red signal line but remains in negative territory.

Should positive momentum strengthen and the price crosses above its 50-day SMA, initial resistance could be met at the recent peak of 135.57. Conquering this barricade, the bulls could then aim for the 137.55 barrier. An upside violation of the latter could set the stage for the 24-year high of 139.37.

Alternatively, if selling pressures arise, the pair could descend to challenge the 132.50 hurdle. Sliding beneath that floor, the recent low of 130.40 might be the next support zone for the price. Any further declines may then stall at the May low of 126.40 before the spotlight turns to 121.20.

Overall, USDJPY’s short-term picture appears to be constantly improving but the 50-day SMA has proved to be a tough resistance barrier for the bulls. Nevertheless, a drop beneath the 130.40 floor could shift the technical picture back to negative.

USD/JPY
USD/JPY

USD/JPY Resumes Rebound But 50-Day SMA Caps Advance
 

Related Articles

USD/JPY Resumes Rebound But 50-Day SMA Caps Advance

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email