• USDJPY breaks above 110; looks bullish in short-term


    USDJPY cleared the 110 level on Monday and broke slightly above the 50-day moving average (MA) on Tuesday to reach a six-week high of 110.64. The pair is also trading comfortably above the 20-day MA and the Ichimoku cloud, giving positive trend signals for the short-term. Momentum indicators are also in bullish territory, with the red Tenkan-sen line improving above the blue Kijun-sen line and the RSI increasing steam after the rebound on the 50 neutral threshold. The fast Stochastics, though, are still close to the 80 overbought mark, warning that the bears might be around the corner. Should bullish pressure violate ... (full story)