USD/JPY Attempts To Remain Above 110.00

Discussion in 'Technical Analysis' started by Kaitlin, May 19, 2016.

  1. Kaitlin

    Kaitlin Forum Member

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    As was first anticipated, hawkish FOMC Meeting Minutes triggered another USD/JPY rally yesterday, which led to the breakout from the falling wedge pattern. Moreover, the pair retook the 110.00 major level, now finding itself stuck between the weekly R1 from the downside and the cluster, represented by the 55-day SMA[​IMG]

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