USD/JPY Is Range-Bound between Levels 106.800 and 107.400
Login

USD/JPY Is Range-Bound between Levels 106.800 and 107.400

Estimated Reading Time: 2 minutes

Azeez Mustapha

Updated:

Key Resistance Levels: 111.00, 112.00, 113.00
Key Support Levels: 104.00, 103.00, 102.00

USD/JPY Price Long-term Trend: Ranging
USD/JPY is still range-bound between levels106.800 and 107.400. The Yen is consolidating in the middle of the price range. The price is trading below the moving averages. There is the tendency of price falling from the recent high.

USD/JPY – Daily Chart

Daily Chart Indicators Reading:
The 21-day SMA and 50-day SMA are sloping horizontally indicating the sideways move. The Yen is currently at level 49 of the daily Relative Strength Index. The Japanese Yen is still in the downtrend zone and below the centerline 50.

USD/JPY Medium-term Trend: Ranging
The USD/JPY pair is in a horizontal channel. The price is fluctuating between levels 106.800 and 107.400. The resistance and support levels have tested twice. Presently, price is approaching the resistance level. A break above the resistance will compel the Yen to resume the uptrend.

USD/JPY – 4 Hour Chart

4-hour Chart Indicators Reading
The pair is above 50% range of the daily stochastic. It implies that the market is in a bullish momentum. The Yen is rising and approaching the resistance line. The SMAs are also sloping sideways. It indicates the sideways move.

General Outlook for USD/JPY
The Japanese Yen has been range-bound since July. The price is yet to break levels 106.800 and 107.400. The Yen will trend when these levels are breached.


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