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USDJPY left to right chart bias is still to the upside. 50% retracement holds support.

May 28, 2023 by admin 0 Comments

The USDJPY dipped to the 50% midpoint of the range since the 2022 high after breaking above that level yesterday. The corrective move dipped just below that level but found buyers ahead of the better-than-expected US data. That data sent the USDJPY back to the upside. The buyers remain in full control.

Stay above the 50% retracement at 139.574 is more bullish. The rising 100 hour moving average at 139.06 remains another support level that would need to be broken for the sellers to take back more control. Absent that and the sellers are not winning. The left-to-right trend remains to the upside.

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USDJPY bias remains to the upside

This article was originally published by Forexlive.com. Read the original article here.