USD/JPY Resumes Upward, May Revisit Level 105.70
Login

USD/JPY Resumes Upward, May Revisit Level 105.70

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: Ranging
The USD/JPY pair is currently rising and the pair is yet to trend. The price is rising to level 106.0 where it was previously rejected. Buyers have not broken this level since September.

USD/JPY – Daily Chart

Daily Chart Indicators Reading:
The 50-day SMA and 21-day SMA are sloping downward indicating the downtrend. The Yen is currently at level 49 of the daily Relative Strength Index. This indicates that the market is in the downtrend zone and below the centerline 50.

USD/JPY Medium-term Trend: Bullish
On the 4-hour chart, the pair is rising. On October 19 uptrend; a retraced candle body tested the 78.6% Fibonacci retracement level. The Yen is likely to further rise to the 1.272 Fibonacci extension level. That is level 105.70. The price will reverse at level 105.70.

4-hour Chart Indicators Reading
The market is currently above the 80% range of the daily stochastic. It indicates that the coin is in bullish momentum and it is approaching the oversold region. The SMAs are also sloping upward indicating the present uptrend.

USD/JPY – 4 Hour Chart

General Outlook for USD/JPY
USD/JPY is in an upward move. According to the Fibonacci tool analysis, the pair will rise and reach the 1.272 Fibonacci extension level. That is the market will reach the high of level 105.10.


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
  • 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