The Japanese Yen has still been depreciating against the US Dollar during the last three days. The main pair passed through the monthly PP( 110.692) and tested the weekly R1 during Thursday’s trading session. In general, the US Dollar recovered 0.85% from Wednesday night until Friday morning.
On Friday morning, the main pair was at 1.1270, showing strong bullish signals. The US Dollar passed through all SMAs on Wednesday and breached pattern starting from yesterday’s session.
On Friday, we can observe that the currency movement is trying to fit into the existing trend line. The 55-hour and 100-hour SMAs have crossed during yesterday’s trading session as it was expected. However, the 200-hour SMA joined the club crossing the 55-hour SMA early on Friday.
