Following yesterday’s volatile trading session, the Dollar/Yen is trading higher on Thursday, following an outside move, higher close. Volatility was fueled by low trading volume and the absence of a major player, such as a bank or institution.
The price is trading above the Pivot Point of 115.08, which is located at 115.02 and 115.17, respectively. The ascending channel’s EMA 10 is advancing with a bullish bias and has crossed both the EMA 100 and the EMA 200. Both the 100 and 200-period EMAs are rising. When the RSI crosses 70, the MACD histogram moves into the green zone. An overbought Stochastic is in motion. In other words, there is a buy signal coming from the ADX at this time. the Ichimoku Cloud and Chinkou Span are a long way away from market value. A bullish trend may be seen in both the Tenkan- and Kijun-sen indicators.

• There is resistance at 115.17, followed by resistance at 115.23 and 115.32.
• There is support at 115.02 Below, there is 114.93 and 114.87.

Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.

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