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Pound stabilizes after sell-off, stocks rise on policy hopes, oil

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 26, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    USDJPY bearish bias remains USDJPY is testing the 133 yen level today. There was an attempt to break above it briefly this morning but the pair has mostly traded below this level all week. However prices appear to have bottomed out and steadied since dropping to 16-month lows of 110.96 on February 11. The levelling off of the RSI at oversold levels around 30 suggests that downward pressure has eased and the market will likely consolidate in the short term. But the outlook remains bearish since

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