The USD/JPY is trading above its upward trend line on a 30 minute time frame. The price is trading near the 20 day moving average which means that the volatility for the pair is low. The pair is also trading above the 50 day (shown in green) and the 100 day (shown in yellow) moving averages which is a further confirmation that the uptrend is still strong.
The EUR/USD is trading near the support zone on a 30 minute time frame. The pair has pierced the Bollinger band at this level which means that the volatility for the pair is high. The piercing of the Bollinger band does have a significant importance when this takes place at an important level of support or resistance because this could reverse or pause the current trend.
However, the EUR/USD has broken its upward trend line which shows that the upward is no longer in play. The RSI is also trading inline with the price action which confirms that the bias could be to
Series of record finish on the Wall street which we have seen last week, is stimulating the European markets on the first trading day of the week. Asian markets also traded in a positive territory for another day on the back of the Iranian deal which shows that the sanctions could be reduced on Iran and…
