Chart - Courtesy Trading View
Technical Analysis:
- USD/JPY was trading 0.16% higher on the day at 09:45 at around 09:45 GMT
- The pair is grinding higher for the 3rd straight session
- Price action has edged above 21-EMA and is testing cloud top and 50-DMA resistance
- MACD shows bullish crossover on signal line, momentum is bullish
- GMMA indicator has turned bullish on the intraday charts
Major Support Levels:
S1: 134.56 (21-EMA)
S2: 133.82 (55-EMA)
Major Resistance Levels:
R1: 135.38 (50-DMA)
R2: 137.19 (Upper BB)
Summary: USD/JPY trades with a bullish bias. The pair finds stiff resistance at 135.49 (nearly converged cloud top and 50-DMA).
