USD/JPY
There is a rally on the USD/JPY pair, and that has resulted in a bullish signal (for price has gained 230 pips this week, testing the supply level at 107.00). There has been a shallow pullback in the market, following that. However, the bullish journey will soon resume.
The EMA 11 is above the EMA 56, and the RSI period 14 is above the level 50, signifying further bullish movement in the market, owing to a Bullish Confirmation Pattern in the 4-hour chart. Some fundamental figures are expected today and they will have certain impact on the markets.
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