FBS: technical picture for USD/JPY
Tatiana Norkina, an analyst in FBS
Currency pair is consolidating the fifth consecutive session of the 109th figure. Obviously, it is necessary to reset the overbought market to continue the uptrend. Today trading is just above support 108.60/108.65, but the bulls need to overcome at least 108.85 mark, which since yesterday constrains offensive. Break of this level will mean that very soon we can see the currency pair upper strong resistance of 109.20.
MACD is quite optimistic: the histogram is growing, and the signal line showed a bullish attitude of market participants.