Technical Analysis – USDJPY tests key resistance for more upside moves
Posted on May 20, 2020 at 7:44 am GMTUSDJPY controlled by the 20- and 50-day simple moving averages (SMAs) the past few sessions is pushing for another soft green week that could see a test of the 108.50 barrier if the bulls manage to successfully breach the 50-day SMA and resistance around 107.97– being the 61.8% Fibonacci of the down leg with a top at 112.21 and a low at 101.17. According to the momentum indicators, another upside correction is possible as the RSI and the MACD are [..]