USDJPY Bulls Are Ready to Push the Price Level Higher

Price Analysis: USDJPY Bulls Are Ready to Push Prices Above the 115.720 Key Levels

USDJPY bulls are ready to push price levels higher than the 115.720 key level. The price impact momentum is ready to cause a break above the key level. The price has undergone a series of consolidations between the significant. The levels of 112.610 and 115.720 now want to smash through the 115.720 level of influence. The price is therefore expected to overcome the resistance in price at that market level.

USDJPY Market Levels:

Resistance Levels: 115.720, 112.610.
Support Levels: 110.710, 108.630

USDJPY Long Term Trend: Bullish

The market first followed with a swing up from May, and the bulls singlehandedly took the price action to the level of 108.630. The market, however, began to accumulate at this level as the movement continued till the buyers were ready to push the price momentum higher. The market buyers moved with a strong impulse to take a price level higher in the market. The price, however, breaks through the significant levels of 110.710 and 112.610 as price momentum increases in the market.

When the price rises above the 112.610 level, the market begins to concentrate on its price. Both the bulls and the bears are holding price preeminence at this level. The bulls are, however, set to kick off price motion when their price momentum increases. This implies that they would be able to overcome the resistance in the price action. The Parabolic SAR (Stop and Reversal) shows the price in a bullish trend order as the momentum breaks through.

USDJPY Short Term Trend: Bullish

The 4hr chart time frame of USDJPY shows both the bulls and bears on display in the market. The market is, however, currently set in motion to break through the price level as the momentum increases. The MACD (Moving Average Convergence and Divergence) indicator shows price movement is above the zero line, indicating a bullish signal to continue as the price is set to break above 115.720.

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