USDJPY – Guide, Tips & Insights | Learn 2 Trade – Guide, Tips & Insights | Learn 2 Trade Analysis – December 2
USDJPY – Guide, Tips & Insights | Learn 2 Trade – Guide, Tips & Insights | Learn 2 Trade approaches the discount zone as the bulls exit the market. The absence of the bulls results from the resistance faced at the 151.900 price level. According to the MA Cross, USDJPY – Guide, Tips & Insights | Learn 2 Trade – Guide, Tips & Insights | Learn 2 Trade is now in a bearish environment as the Moving Average Period 9 crossed downward through the Moving Average Period 21.
USDJPY – Guide, Tips & Insights | Learn 2 Trade – Guide, Tips & Insights | Learn 2 Trade Key Levels
Demand Zones: 144.900, 127.200
Supply Zones: 151.900, 160.400
USDJPY – Guide, Tips & Insights | Learn 2 Trade – Guide, Tips & Insights | Learn 2 Trade Long-Term Trend: Bullish
After a significant bottom was formed around 129.600, the market started to move bullish. Before reaching the price level of 144.900, the rally started inside two rising trendlines. The trendlines acted as diagonal support and resistance. The diagonal support was compromised after the withdrawal at 144.900 in June 2023.
Nevertheless, the bulls entered the market again right away in the discount zone because the RSI indicated that USDJPY – Guide, Tips & Insights | Learn 2 Trade – Guide, Tips & Insights | Learn 2 Trade was practically oversold.
Successfully breaking the prior resistance at 144.900 involved an algorithmic move to the upside. After making a sharp advance above, USDJPY – Guide, Tips & Insights | Learn 2 Trade – Guide, Tips & Insights | Learn 2 Trade hit a new high at 151.900. A Fair Value Gap developed throughout the surge, just below the price level of 144.900. The bulls left the market due to selling pressure around the 151.900 price level, which resulted in a significant decline. The RSI suggests that the market is moving toward an oversold area in the discount zone.
USDJPY – Guide, Tips & Insights | Learn 2 Trade – Guide, Tips & Insights | Learn 2 Trade Short-Term Trend: Bearish
The market is algorithmically declining downward on the four-hour chart. A Market Structure Shift to the downside had earlier occurred on November 15, 2023. The downtrend is expected to continue until the discount zone is reached.
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