USDJPY Bullish Outclass Is Being Retracted as Its Value Falls

Updated:

USDJPY Analysis – May 12

USDJPY bullish outclass is being retracted as its value intends to fall back beyond the 128.640 key zone. The daily chart demonstrates a bullish consistency in pushing the price effect. However, the selling pressure has dampened this effect. The price is currently looking for a retracement in the value propensity. In the market action, a quick drop in USDJPY is expected before the price corrects to a bullish outlook.


USDJPY Key Zones

Resistance Zones: 128.640, 126.930
Support Zones: 121.370, 118.190

USDJPY Bullish Outclass Is Being Retracted as Its Value FallsUSDJPY Long Term Trend: Bullish

Before the buyers could demonstrate their power in the USDJPY pair. The influence was first felt in the accumulation phase. A breakthrough beyond the 118.190 price zone was evident. The bullish dominance, therefore, rallied the price forward following a cross given by the Moving Average crossing indicator. As the pair progresses in value, the bullish tendency with the moving average indicator also expands.

As the bull market continues, the USDJPY attempts to correct itself after the motion. Before further advancement, the bullish section deals with retracement at the 121.370 key zone. Furthermore, the USDJPY is currently reversing due to a lack of bullish fallout. As a result, the USDJPY is expected to revert to the 128.640 key level. The daily chart depicts the RSI (Relative Strength Index) strength to be in the selling domain.

USDJPY Bullish Outclass Is Being Retracted as Its Value FallsUSDJPY Short Term Trend: Bearish

The 4hour chart highlights prices set on a dropping course. If selling pressure is added to the price, there will be a significant drop even below the 128.640 market zone. The bears may therefore extend the price to fill the liquidity void created by the buyers in the market. The market will remain bearish until the price falls below the 128.640 significant point.

How To Buy Lucky Block 

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.

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
8.5
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 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.