USDJPY: Rebound on the 1D MA50. Buy signal.

9 thg 8, 2023

USDJPY is on the third straight green 1D candle after a rebound on the 1D MA50 that has turned the 1D time-frame into healthy bullish levels (RSI = 60.603, MACD = 0.480, ADX = 30.898). This is technically a bullish continuation signal, with the 1D MACD after a Bullish Cross, resembling the bullish sequence of April.

We are long, targeting the R3 level (TP = 146.800). If the price crosses under S1, we will short and target the S2 level (TP = 133.515).

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