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<p>On the 4h chart of USDJPY, the pair is now trading at 113.563 when editing. As the intraday price just broke the 23.6% retracement level of the rally from 112.325 to 114.017 even though the support is overcome which will open the space to go down to 38.2% retracement. Technical readings suggest a neutral-to-bullish outlook for the pair. The confluence of the two lines on MACD can fuel up the pair, and the Bull power is still strongly positive. Resistance is the previous support recast as the resistance at 113.622. The further loss will be on agenda if support on 113.633 is crossed.</p>

Neutral-to-bullish outlook for USDJPY

Dec 01 2020