USD JPY shifts to new highs helped by Lavrov and Bullard

USD/JPY shifts to new highs helped by Lavrov and Bullard

The ten-year result offered up to 1.986% (just under that level now). The ten years pushed to 1.903% at the low today.

Looking at the hourly chart, today’s primary move was back to the lows from Friday. The low on Friday and today saw the price dip below a swing area between 115.033 and 115.11. The soft (like the EUR/USD) bottomed at a gorgeous natural round number of 115.00. Rightly or wrongly, there tend to be traders that lean versus the “big figures.” That is obvious today.

The run back to the upside took the price back beyond the 200 hour MA (green line at 115.27) and moved up to a high of 115.54. The 100 hour MA dominates ahead at 115.624. There is a swing area between 115.616 and 115.671. On Friday, the pair broke under that swing area and moved average too and ran to the downside, supported by the news of a potential imminent invasion from Russia into Ukraine.

 

There is some balance to the price action

 

That area is a critical upside resistance barometer in, much like the swing area beneath is a lower support barometer.

Taking a more comprehensive look at the price action in 2022, the high from last week slowed right near the high from early January.

On the other hand, the low from January 14 was tested on January 24. There are also some risk-defining swing areas that traders will use as support/resistance as a maneuver through the ups and downs from essential news and the technical flows. At some point, there will be a break past of the range, but for now, the prices are more in the “meat” of the ups and downs.

Sending
User Review
0 (0 votes)

RELATED POSTS

Leave a Reply

tmn-img-28-1

Share this on

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn

Rec­om­mended for You

Subscribe to Our Newsletters

Have The Best Of Trade Market News Delivered Directly To Your
Mailbox. Subscribe To Receive The Latest Market News.