USD/JPY eyes 162
Another day, another handle for USD/JPY which tapped the 162 level for the first time in over 37 years on Monday. The daily chart clearly shows a strong uptrend although a bearish divergence has formed on the RSI indicator in the overboard zone. This brings the potential for a pullback although this seems unlikely unless the ministry of Finance intervenes.
The one-hour chart shows prices have a traced lower from Monday's high and holding above the 20-bar average and daily pivot point. RSI reached oversold Near yesterday's low so perhaps a swing low is already in place.
The bias is for a move towards 162, near the upper one-day implied volatility level and monthly R1 pivot. Some profit taking around 160 He wouldn't be too much of a surprise, so we're equally open to a pullback as we are for prices to continue higher - depending on whether the mainstream finance field needs to intervene once more.
The one-hour chart shows prices have a traced lower from Monday's high and holding above the 20-bar average and daily pivot point. RSI reached oversold Near yesterday's low so perhaps a swing low is already in place.
The bias is for a move towards 162, near the upper one-day implied volatility level and monthly R1 pivot. Some profit taking around 160 He wouldn't be too much of a surprise, so we're equally open to a pullback as we are for prices to continue higher - depending on whether the mainstream finance field needs to intervene once more.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.