Technical Analysis – USDJPY unlocks 111.00 key level again; indicators signal neutral mode
Posted on April 11, 2019 at 6:43 am GMTUSDJPY is trading near the psychological level of 111.00 and is capped by the 40-day simple moving average (SMA). The sell-off in the preceding days drove the price well above the flat 200-day SMA indicating a possible bearish retracement in the short-term. The momentum indicators, the RSI and the MACD, are moving sideways near the 50 level and around the zero line respectively. Should the pair continue the bearish pressure and slip beneath the 20-day SMA, it could move towards the 23.6% Fibonacci retracement level of the upleg from 104.64 [..]