Noor Trends News, Technical Analysis, Educational Tools and Recommendations
Positive trades dominated the movements of the dollar-yen pair within the expected bullish track, to build on the support of the psychological barrier 146.00, approaching by a few pips away from the target required to touch 146.70, recording its highest price at 146.63.
On the technical side today, we are leaning towards positivity in our trading, depending on the stability of trading above 145.90 accompanied by the continuation of the pair obtaining a positive impulse from the simple moving averages, in addition to the clear positive signs on the 14-day momentum indicator.
Therefore, the bullish trend remains the most likely during today’s trading session, towards the targets of the previous analysis, 146.80, a first target, knowing that its breach is a catalyst that extends the pair’s gains, to wait for touching 147.20 next station.
From below, the return of trading stability below 146.00, and most importantly 145.90 postpones the chances of a rise, but does not cancel it, and we may witness a re-test of 145.40 before attempts to rise again.
Note: Trading on CFDs involves risks. Therefore, all scenarios may be possible. This article is not a recommendation to buy or sell but rather an explanatory reading of the price movement on the chart.
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