USD/JPY, triggering the next bullish step

The resistance level is almost broken

30-Year JGB Auction was published in Japan and the US will release Unemployment Claims, Continuing Claims and Factory Orders. On the chart the price is rising smoothly and has already almost broke the resistance. the overall look of the chart is bullish, a strong support is below the price line and several indicators are showing buy signal.

            Chart Notes: 

           • Chart time-zone is UTC (+03:00)

           • Candles’ time-frame is 4h.


The support rests at 104.900 with resistance at 105.380 which the weekly pivot point at 104.410 is located below the lines. The EMA of 10 is moving with bullish bias in the ascendant channel and it is above the EMA of 100 and the EMA of 200. The Stochastic is moving in high ranges, the RSI is moving in overbought area. The MACD is moving in negative territory and the ADX is showing buy signal.
USDJPY is on bullish trend targeting 105.500.

• DISCLAIMER: Please note that the above analysis is not an investment suggestion by “Capitalcore Ltd”. This post has been published only for educational purposes.