The US dollar fluctuated in a narrow range tilted to the upside during the Asian session, to witness its bounce for the third consecutive session from the lowest since March 12 against the Japanese yen after the developments and economic data that we followed about the Japanese economy and before …
The overall trend is downward. The currency pair is trading in the range of 365 and 135 moving averages. A breakout of the support level 0.9165 will result in the formation of a 1-2-3 descending pattern. Stochastic Oscillator showed an exit from the overbought zone.
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The pair holds above 1.1740 amid the positive economic data from Europe, which helped stoke optimism among investors over the region’s economic recovery and even growth.
Technical side:
The price is below the middle Bollinger band, above SMA 5, but still below SMA 14.RSI crosses the
level of 50% …
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