- USD/JPY extends losses from yesterday’s pullback from 21-day EMA.
- MACD cuts its bullish bias.
- Strong resistance near 100-day EMA and 50 Percent Fibonacci retracement.
USD/JPY was down 0.14 Percent from its previous close, extending yesterday’s pullback from the 21-day EMA. The pair was trading at 105.65 before the European open on Friday.
The pair’s MACD is also suggesting weakness, apart from the sustained selling below the near-term EMA, emboldening the bears to target 105.25, an upward sloping trend-line from July 31.
USD/JPY will find support near July 30 bottom around 104.70 and further at 104.20, the prior month low.
If the pair goes above the 21-day EMA level of 106.15, then 106.55 will be in play. But, the merger of 100-day EMA and 50 Percent Fibonacci retracement of June-July fall – at 107.05/10, will challenge the bulls.
Currencylive.com is a news site only and not a currency trading platform. Currencylive.com is a site operated by Wise US Inc ("We", "Us"), a Delaware Corporation. We do not guarantee that the website will operate in an uninterrupted or error-free manner or is free of viruses or other harmful components. The content on our site is provided for general information only and is not intended as an exhaustive treatment of its subject. We expressly disclaim any contractual or fiduciary relationship with you on the basis of the content of our site, any you may not rely thereon for any purpose. You should consult with qualified professionals or specialists before taking, or refraining from, any action on the basis of the content on our site. Although we make reasonable efforts to update the information on our site, we make no representations, warranties or guarantees, whether express or implied, that the content on our site is accurate, complete or up to date, and DISCLAIM ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. Some of the content posted on this site has been commissioned by Us, but is the work of independent contractors. These contractors are not employees, workers, agents or partners of Wise and they do not hold themselves out as one. The information and content posted by these independent contractors have not been verified or approved by Us. The views expressed by these independent contractors on currencylive.com do not represent our views.
