Technical Analysis


Government back open. 

The technical levels were converging (see earlier post). The range for the day was confined.  All that begs for a break and run at some point.  

The USDJPY has made a break and ran to the upside.  On the break from the Senate vote to open the government (at least for the next few weeks), the price moved above the trend line, 200 hour MA and up toward the final swing high from Thursday at 111.20 (see hourly chart above). 

Now it is the reactionary run from the news and that run can fade, but the break does shift more of the focus to the bullish side,. 

The price has not traded above the 200 hour MA since January 10th.  Stay above now would be more bullish. Move below and the euphoria from the vote, will be a distant memory.   

Next target comes in at 111.406.



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