USD/JPY bounce starts to gain some traction ...Middle East

After running into a test of its 100-day moving average (red line) on Monday, the pair did so again in trading yesterday. That owed to a bid in the Japanese yen after the whole martial law fiasco in South Korea involving president Yoon. And as the drama died down, USD/JPY retraced back up with buyers keeping a bounce off the key technical level above.That is leading to a stronger bounce today with the pair now up 0.5% to around 150.39 on the day. What is different about the latest bounce as opposed to the Monday one though is that the near-term bias is potentially shifting in the pair. As buyers hold their ground as seen on the daily chart, the hourly chart is also reflecting more conviction

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USD/JPY bounce starts to gain some traction ...Middle East

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