Corrective Cycle In USDJPY
Mar-18 14:05By: Taso Anastasiou
- The trend direction in USDJPY remains down and short-term gains are considered corrective.
- The 20-day EMA has been breached and this signals potential for a climb towards resistance at the 50-day EMA.
- Note that the Mar 3 high is at 151.30.
- Clearance of 151.30 and the 50-day EMA, is required to highlight a stronger reversal.
- Moving average studies remain in a bear-mode set-up, highlighting a dominant downtrend.
- The bear trigger is at 146.54, the Mar 11 low
