- USD/JPY grinds higher around weekly top during five-day winning streak.
- 50-SMA, fortnight-old descending trend line probe immediate upside.
- Bullish MACD signals, one-week-old ascending trend line keeps buyers hopeful.
USD/JPY seesaws around 134.00 as bulls keep the reins during a five-day uptrend near the weekly top. In doing so, the Yen pair pokes the 50-SMA level amid Wednesday’s sluggish trading.
Given the Yen pair’s steady recovery from the four-month low marked in the last week, portrayed by short-term support, as well as the bullish MACD signals, the USD/JPY could cross the immediate hurdle, namely the 50-SMA level of 134.00.
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