Technical Analysis USDJPY daily in trading range, RSI, reversal of the yen’s decline

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pierreapienaar
By pierreapienaar on Tue, Oct 15, 2013 - 6:25am

Technical Analysis – USDJPY daily in trading range; upside breakout would resume uptrend

October 15, 2013 at 8:01 am GMT

 

The dollar marked a 2-week high against the yen on Tuesday, but traded in the middle of its range of the last 4 months or so.

 

The dollar marked a 2-week high against the yen on Tuesday, but traded in the middle of its range of the last 4 months or so. The dollar bounced strongly off the 96.50 area and it will be interesting how high this bounce can lead to.

 

The RSI is at 51, which represents a neutral level. Dollar/ yen is also trading close to its 50-day moving average.