• Add

Bullish trend remains very strong – USD/JPY Market Outlook – 05/02/2021


The Japanese Yen has been moving lower since the start of the new year and yesterday it hit a 12-week low. With a stronger US Dollar, the USD/JPY is still trending up and holding above the 50-day moving average at ¥104. The main bullish trend is expected to continue, however, in the short-term, since the pair is testing the 200-Day moving average (Daily Chart) around ¥105.60 / ¥106, failure to breach this key important indicator may trigger some profit-booking today ahead of US Non-Farm Payrolls report scheduled to be released at 1330 GMT.

Support: 105 / 104.80
Resistance: 105.60 / 106

SquaredFinancial Daily Market Outlook


SquaredFinancial Review

Source: https://www.squaredfinancial.com/learn/daily-market-outlook/bullish-trend-remains-very-strong-usd-jpy-market-outlook-05-02-2021
!"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|} !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}