USD/JPY
Bulls have regained control over the pair: USD/JPY rose by almost 200 pips yesterday, touching a new 5-year high of 104.40.The bullish impulse slowed at these levels, resulting in another wave of bearish correction.
• USD/JPY holds above the bullish H4 Ichimoku with Kijun-sen crossing the Tenkan-sen to the upside.
• Supported by the 55-day MA (102.85) and the 100-period MA (102.50).
• MACD histogram rose into the positive territory (bullish sign).
• Sentiment remains bullish as long as the 103.75 support holds.
Support: 103.75, 103.40, 102.50
Resistance: 104.40, 105.00, 105.55
Chart. Daily USD/JPY
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