USD/JPY Resumes Uptrend, Battles Resistance at Level 107.00

USD/JPY Resumes Uptrend, Battles Resistance at Level 107.00


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 in a sideways trend. The market is fluctuating between levels 106.00 and 108.00. The price has broken above level 106.00 and resumed an upward move. It is currently facing resistance at level 107.00.

USD/JPY – Daily Chart

Daily Chart Indicators Reading:
The 21-day SMA and 50-day SMA are sloping sideways indicating a trend. The Yen is currently at level 57 of the daily Relative Strength Index. The Yen is in the uptrend zone and above the centerline 50.

USD/JPY Medium-term Trend: Ranging
The USD/JPY pair is in a sideways move. The market is likely to rise as it is above the EMAs. The pair rose but has been resisted at level 107.00. The market is falling to the lower price range.

USD/JPY – 4 Hour Chart

4-hour Chart Indicators Reading
The pair is below 40% range of the daily stochastic. The Yen is in a bearish momentum. The SMAs are also sloping horizontally. It indicates the sideways move.

General Outlook for USD/JPY
The Japanese Yen is still in a sideways trend but the price is attempting to resume upward move. The pair has risen to the previous price range and resumed sideways move.



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





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