USD/JPY Is In a Sideways Move, Battles Level 111.00
Login

USD/JPY Is In a Sideways Move, Battles Level 111.00

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:

Key Resistance Levels: 111.000, 112.000, 113.000
Key Support Levels: 104.000, 103.000, 102.000

USD/JPY Price Long-term Trend: Bullish
USD/JPY is in an upward move. On July 2, the upward move has been terminated at level 111.00. The Yen fell to level 109.60 and resumed upward. In the first rejection in March, the currency pair plunged to level 107.50. In both examples, USD/JPY resumed a fresh uptrend. The upward move is likely if the overhead resistance is breached.

USD/JPY – Daily Chart

Daily Chart Indicators Reading:
USD/JPY is at level 47 of the Relative Strength Index period 14. It implies that the Yen is in the downtrend zone and below the centerline 50. The 21-day and 50-day SMAs are sloping upward indicating the uptrend.

USD/JPY Medium-term Trend: Bullish
On the 4-hour chart, the Yen is in a brief downtrend. The pair was rejected and it fell to level 109.70. Meanwhile, on July 6 downtrend; a retraced candle body tested the 78.6% Fibonacci retracement. The retracement indicates that the Yen will fall to level 1.272 Fibonacci extension or level 110.61.

USD/JPY – 4 Hour Chart

4-hour Chart Indicators Reading
USD/JPY pair is above the 25% range of the daily stochastic. It indicates that the pair is in bullish momentum. The 21-day and 50-day SMAs are sloping downward indicating a downtrend.

General Outlook for USD/JPY
USD/JPY is in a sideways move below level 111.00. The currency pair has fallen into the oversold region of the market. Buyers are likely to emerge in the oversold region of the market.


You can purchase crypto coins here: Buy Tokens


Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News