Technical Analysis – USDJPY although briefly frozen, sustains a bearish tilt
Posted on April 2, 2020 at 9:03 am GMTUSDJPY has sunk aggressively following the latest slide that commenced on March 24, falling past all simple moving averages (SMAs) and under the 107.69 hurdle, that being the 38.2% Fibonacci retracement of the up leg from a 41-month low of 101.17 to 111.71. Currently, upside corrections seem limited by the mid-Bollinger band and the flattened and congested SMAs above. Backing a stalled negative phase are the short-term oscillators, which suggest a paused state of directional momentum. The MACD, below its [..]