Technical Analysis – USDJPY maintains upside momentum
Posted on December 23, 2014 at 7:46 am GMTUSDJPY has regained upside momentum, rising for 5 straight days after bouncing off 115.55. The kijun-sen line has crossed above the tenkan-sen line which is a bullish signal. RSI is back into bullish territory above 50. There is scope for a retest of 121.84, the 7-year high hit on December 8. To the downside, there is immediate support at 117.90 which is the 23.6% Fibonacci retracement level of the move up from 105.19 to 121.84. Below this strong support is [..]