Steady progress for the Yen

Morning Dynamic Traders.

Yesterday the Yen continued to find strength and price increased. The increase in price yesterday wasn’t as dramatic as Tuesday’s increase, so let’s find out why.

Below I have posted an hour chart of the USDJPY. Straight away you will be able to see that the price is currently in an uptrend.
I have also marked out where Wednesday’s movements are.
You will notice that we have divergence from the MACD, price also hit a previous support/resistance line and then during the course of Wednesday price came down a bit, before heading back up.














Tomorrow will be able to see if Wednesday’s weaker performance from Tuesday’s has any effect on what will happen today.

Happy Trading.