USD/JPY - Surpassed 114.00 Critical Level - Next Barrier to Watch 115.50 - 05/10/2017 (GMT)

The USD/JPY pair surged almost 1% so far this week following the strong rebound on the 100-daily SMA. The price surpassed the 113.50 strong level and opened the way for hitting the 115.50 strong resistance barrier. Also, the greenback is completing the third positive day in a row and we experienced a run to the upside as it penetrated the descending trend line which was standing since December 2016

From the technical point of view, on the daily chart, the three simple moving averages (50, 100 and 200) are pointing upwards while the technical indicators are still moving sharply higher. The RSI indicator jumped into the overbought path as well as the MACD oscillator which is also holding above its trigger line.