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[QUOTE="titanfx, post: 102801, member: 33464"]
[SIZE=6][B]USDJPY – US Dollar Primed For Lift-Off Vs Yen[/B][/SIZE]
[SIZE=5][B]Key Highlights  [/B][/SIZE]
·  US Dollar traded higher vs the Japanese Yen, and it looks like there are chances or more gains in the near term.

·  There is a support trend line, and there is a resistance trend line formed on the hourly chart of the USDJPY pair, acting as a catalyst for the USD.

·  Today in the US, the Services Purchasing Managers Index (PMI) will released by Markit Economics, which is forecasted to rise in May 2016.

·  The US Goods Trade Balance will also be released by the US Bureau of Economic Analysis, which might impact the US dollar buyers moving ahead.

[SIZE=5][B]USDJPY Technical Analysis[/B][/SIZE]
The US Dollar is following a nice bullish trend line on the 4-hours chart, and if the current trend continues, there is a chance of more gains in the near term.

[IMG]http://s33.postimg.org/xxiqiw0bj/USDJPY_05_25_2016.png[/IMG]

However, there is also a resistance trend line formed on the same chart, which may act as a hurdle for the USDJPY pair if it continues to move higher.

The 4-hours RSI is above the 50 level, which is a sign that the buyers are in control.

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[B][I]Posted by Aayush Jindal - 'Titan FX Currency Analyst'[/I][/B]
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