USD/JPY – Fell from its Resistance As predicted
The USD/JPY pair fell from its resistance on a 30 minute time frame which we predicted in our daily analysis on 20th May. The price is trading well below the 50 day (shown in green) and the 100 day moving average which suggests that downward pressure is very strong. The volatility for the pair is also at an extreme level, as the price has pierced the Bollinger Band and it is far off from its 20 day moving average. However, the price action is approaching near the minor support zone which could push the price back up.
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