You should do your own thorough research before making any investment decisions. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. Information on these pages contains forward-looking statements that involve risks and uncertainties. A breach of the 200-EMA will push the asset towards Wednesday’s high at 137.46. An occurrence of the same will send the asset towards the 200-EMA at 137.12. On the flip side, the greenback bulls could wonder if the asset oversteps July 25 high at 136.79.
![200 ema 15 minute chart 200 ema 15 minute chart](https://2.bp.blogspot.com/-_a_yI9W72yA/XGKXhwdrSOI/AAAAAAAAW2w/TfUq0htLSykJZwMfA_0jjm_Q8JqbVEIEQCLcBGAs/s1600/SPX%2B2-12%2B200.jpg)
This will drag the asset towards July 25 low at 135.89, followed by the psychological support at 135.00. Meanwhile, the Relative Strength Index (RSI) (14) has slipped below 40.00, which has infused fresh blood into the yen bulls.Ī minor recovery towards the 5-period EMA at 136.45 will be a bargain sell for the market participants. The downside move in the asset was initiated after the pair failed to sustain above the 200-period Exponential Moving Average (EMA) at 137.18, which created a base for a bearish reversal. Also, a rejection of the breakdown test has bolstered the yen bulls. The upper and lower portion of the above-mentioned chart pattern is plotted from July 25 high and low at 136.79 and 135.89 respectively. The pair has eased more than 0.2% in the initial session and is likely to display more losses ahead as the US dollar index (DXY) is heavily dumped by the market participants.Ī downside break of the rising channel chart pattern on an hourly scale has weakened the greenback bulls. The USD/JPY pair is falling like a house of cards after surrendering the crucial support of 136.40 in the early Tokyo session.
![200 ema 15 minute chart 200 ema 15 minute chart](https://static.wixstatic.com/media/a0249e_c3e8efb0e7fb47978da243cae222e5aa~mv1.png)
![200 ema 15 minute chart 200 ema 15 minute chart](http://az705044.vo.msecnd.net/20200507/2020-05-07_7-48-58.jpg)
A rising channel breakdown along with rejection has dragged the asset significantly lower.Bulls' failure in establishment above 200-EMA resulted in a bearish reversal.