USD/JPY: Eyes confluence of trend line hurdle & 50-DMA
Pair’s jump above 101.20 levels suggests a temporary bottom is in place around 100.00 levels and the rally from 100.08 (Tuesday’s low) to 101.63 (current rate) is likely to run into wall of resistance at 102.05 (50-DMA + falling trend line hurdle), although reckon the hurdle at 102.05 could hold today given the 10-DMA is still sloping downwards.
