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USD/JPY - Technical analysis of the USD/JPY currency pair on December 16

USD/JPY, currency, USD/JPY - Technical analysis of the USD/JPY currency pair on December 16

During the Asian trading session on Thursday, the USD/JPY currency pair is trading with a slight increase in quotations, remaining within the current support level at 113.45 and the resistance level around 114.30.

The moving averages with a period of 21 and 55 days accelerated and turned up, increasing the discrepancy. The four-hour chart progresses significantly above exponential moving averages, demonstrating the purchasing potential in this market in the short term.

The technical picture also demonstrates the advantage of the bulls, as the MACD histogram still remains in the area above its central line, and the strength indicator of the current RSI movement has risen above the 60 line, confirming the buying potential in this market in the short term.

Thus, we intend to buy this trading instrument today.

USD/JPY
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GBP/USD - Technical analysis of the GBP/USD currency pair on December 20
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USD/CHF - Technical analysis of the USD/CHF currency pair on December 20
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