Technical Analysis – USDJPY lacks bullish signals, but still close to the channel resistance
Posted on December 2, 2020 at 8:12 am GMTUSDJPY has been moving sideways the past week within the 104.00 area and slightly below its 20-day simple moving average (SMA), showing no intention to escape the eight-month old bearish channel. The bearish cross within the downward-sloping 20- and 50-day SMAs continues to back the negative pattern in the price, while the RSI and the MACD have barely shown any persisting strength over the past week, keeping the case of a meaningful rally in the market muted. On the upside, [..]