USD/JPY Resumes a Downward Move as It Faces Resistance at Level 105.50

Azeez Mustapha

Updated:

Unlock Daily Forex Signals

Select a Plan

£39

1 - month
Subscription

Select

£89

3 - month
Subscription

Select

£129

6 - month
Subscription

Select

£399

Lifetime
Subscription

Select

£50

Separate Swing Trading Group

Select

Or

Get VIP forex signals, VIP crypto signals, swing signals, and forex course free for lifetime.

Just open an account with one our affiliate broker and make a minimum deposit: 250 USD.

Email [email protected] with a screenshot of funds on account to get access!

Sponsored by

Sponsored Sponsored
Checkmark

Service for copy trading. Our Algo automatically opens and closes trades.

Checkmark

The L2T Algo provides highly profitable signals with minimal risk.

Checkmark

24/7 cryptocurrency trading. While you sleep, we trade.

Checkmark

10 minute setup with substantial advantages. The manual is provided with the purchase.

Checkmark

79% Success rate. Our outcomes will excite you.

Checkmark

Up to 70 trades per month. There are more than 5 pairs available.

Checkmark

Monthly subscriptions begin at £58.


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 is likely to decline because of rejection. On January 11 uptrend; a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates the Yen is likely to rise to level 2.0 Fibonacci extensions. This is the high of level 106.19.

USD/JPY – Learntrade

Daily Chart Indicators Reading:
Presently, the SMAs are sloping upward indicating the uptrend. The index is at level 71 of the Relative Strength Index period 14. This indicates that the pair is now in the overbought region of the market.

USD/JPY Medium-term Trend: Bullish
On the 4-hour chart, the pair is in an upward move. On February 4 uptrend; a retraced candle body tested the 50% Fibonacci retracement level. The retracement indicates that the Yen will rise to level 2.0 Fibonacci extension or level 106.44.

USD/JPY – 1 Hour chart

4-hour Chart Indicators Reading
The USD/JPY pair is currently below the 80% range of the daily stochastic. It indicates that the pair is in a bearish momentum. The Yen has fallen but may resume upward.

General Outlook for USD/JPY
USD/JPY has been rising for the past three days. The pair is facing rejection at level 105.50. The Yen is falling as a result of rejection. The coin is likely to move up after the retracement. However, the selling pressure will extend to the level 104.95.


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 result

  • 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

Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

Leave a Reply

Your email address will not be published. Required fields are marked *