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USD/JPY: Bulls to Pause for Consolidation Before Resuming

USD/JPY: Bulls to Pause for Consolidation Before Resuming
The USDJPY is consolidating under new multi-month high (138.74) as traders collected some profits after last week’s 1.65% advance. Friday’s close above former tops at 137.90/77 (Mar 8 / May 2) added to bullish signals, however, overbought stochastic in daily chart suggest that consolidation would precede attack at 139.58/140.00 targets (50% retracement of 151.94/127.22 downtrend/psychological […] The post USD/JPY: Bulls to Pause for Consolidation Before Resuming appeared first on Action Forex... Read More
Posted: May 22 2023, 09:13
Author Name: actionforex
Views: 092175

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