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USD/JPY changed its trend from sideways to up on 4-hour chart

the USD/JPY changed its trend from sideways to up on 4-hour chart. If the pair manages to break up the area between 119.55 yen &119.91yen, it will face next resistance at 120.99 yen and the main resistance stands at 121.84yen.The recent price bottom failed to touch the middle boundary of the Bollinger Bands which confirms the price strength. The RSI indicator failed to touch its middle line which signals more gains. The stochastic indicator broke up its overbought area which is also a sign of strength. On the downside, first support lies at its previous bottom 118.25 yen; second support is in the area between 116.91yen& 115.56yen and the main support lies at 114.63yen.

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Amana Capital Group is a Financial Services Group specialized in providing brokerage services in international financial markets namely currencies, commodities, and stock indices. The Group operates several entities regulated and authorized by reputable regulatory bodies.

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