USD/JPY edges above 10-DMA at 100.46, bias higher
USD/JPY had been struggling from many sessions to break above 10-DMA which was offering stiff resistance on the upside.
Cautious trade seen ahead of the Jackson Hole Symposium, which may provide clues on the US interest rates outlook for this year.
On the 4H charts, the pair is holding above major support by 20 MA at 100.35. Stochs and RSI on 4 hourlies are biased higher.
4H cloud base also aligns at 100.37 and offers additional support.
Major resistance on the upside are seen at 100.61 (trendline), 101.08 (20-DMA).
Good to long break above 20-DMA at 101, target 102.65
Cautious trade seen ahead of the Jackson Hole Symposium, which may provide clues on the US interest rates outlook for this year.
On the 4H charts, the pair is holding above major support by 20 MA at 100.35. Stochs and RSI on 4 hourlies are biased higher.
4H cloud base also aligns at 100.37 and offers additional support.
Major resistance on the upside are seen at 100.61 (trendline), 101.08 (20-DMA).
Good to long break above 20-DMA at 101, target 102.65