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26.05.202212:49 Forex Analysis & Reviews: Technical review for USD/JPY: price may bounce up

USD/JPY found support at 126.50. Rising risk appetite, as well as a decrease in US Treasury yields, may push the pair further up, especially if the US GDP data for the 1st quarter exceeds expectations.

technical picture:

The quote is below the middle line of the Bollinger indicator, under the SMA 5 and SMA 14. The relative strength index (RSI) is below 50% and is indicating a slowdown in the price decline, while the stochastic indicator is steadily moving down.

Possible dynamics:

A rise and consolidation above 126.50 may lead to a local growth to 127.50.

Exchange Rates 26.05.2022 analysis

*La presente analisi del mercato ha un carattere esclusivamente informativo e non rappresenta una guida per l`effettuazione di una transazione.

Pati Gani,
Esperto analista di InstaForex
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