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
The USD/JPY pair was on a downward move. The price fell to the low of 102.27 and resume upward move. The Yen is currently facing resistance at the 21-day SMA. It is likely to rise if price breaks above the EMAs. The uptrend is likely to be delayed.
Daily Chart Indicators Reading:
The 50-day SMA and 21-day SMA are sloping horizontally indicating a sideways trend. The Yen is currently at level 50 of the daily Relative Strength Index. This indicates that there is a balance between supply and demand.
USD/JPY Medium-term Trend: Bullish
On the 4-hour chart, the Yen has resumed uptrend but faces initial resistance at level 105. A red candle body tested 78.6 Fibonacci retracement level. The Yen will rise and reach a high of 1.272 extension level. That is the high level 106.16. However, the Yen will later reverse.
4-hour Chart Indicators Reading
The Yen is currently above the 75% range of daily stochastic. It is approaching the oversold region of the market. Also, it is in a bullish momentum. The SMAs are sloping upward indicating the uptrend.
General Outlook for USD/JPY
The USD/JPY pair was in an upward move. The Yen is in a strong bullish momentum. According to the Fibonacci tool, the Yen will fall and reach a level at 1.272 Fibonacci extension level. That is, the pair will reach level 106.16
Note: Learn2Trade.com 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
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
Learn to Trade
Never Miss A Trade Again
Signal Notification
Real-time signal notifications whenever a signal is opened, closes or Updated
Get Alerts
Immediate alerts to your email and mobile phone.
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.