USDJPY price settled high in last intraday trading, offloading overbought conditions on RSI
Price getting ready to reach current level at 147.00 due to technical momentum
Bullish correctional trend expected to continue with support above EMA50, leading to more gains on near-term basis
The (USDJPY) price settled high in its last intraday trading, after its success in offloading the clear overbought conditions on the (RSI), providing extra space for the bullish move. The price is getting ready to reach the current level at 147.00 due to the improvement of the technical momentum.
The continuation of the bullish correctional trend reinforced our expectations on the short-term basis, besides the trading alongside a bullish bias line, and the dynamic support remains valid by its stability above EMA50, which supports the chances of achieving more of the gains on the near-term basis.
