Chart - Courtesy Trading View
Technical Analysis: Bias Bullish
GMMA Indicator
- Major and minor trend are strongly bullish
Ichimoku Analysis
- Price action is well above daily cloud, pullback has held cloud support
- Chikou span is biased higher, scope for further upside
Oscillators
- Stochs and RSI are sharply higher, momentum is bullish
- Oscillators are at overbought levels, but no sign of reversal seen
Bollinger Bands
- Bollinger bands are spread wide apart
- Volatility is high and rising
Major Support Levels: 115.23 (5-DMA), 115, 114.53 (76.4% Fib)
Major Resistance Levels: 116, 116.66 (88.6% Fib), 117
Summary: USD/JPY is extending bullish streak for the 5th consecutive session. The pair has hit new 6-year high and is on track for further gains. Next major bull target lies at 88.6% Fib at 116.66.
