USDJPY Buyers Indicate More Buying Clauses in the Market


USDJPY Analysis – June 16

The buyers of USDJPY indicate more buying clauses following the rejection at the 135.500 level. The recent attempt by sellers to break through failed after a bullish offshoot to 135.500, the key level. The USDJPY buyers are preparing to break through the 135.500 key level previously reacted to not long ago. They were opposed by the selling traders, who were selling off prices below this key level. But the price is opening with a strong sign that it will go up because buyers are coming back into the market.

USDJPY Market levels

Resistance Levels: 135.500, 131.280
Support Levels: 126.300, 120.720

USDJPY Long-Term Trend: Bullish

Due to the low liquidity in the price market, the price was accumulating before the beginning of the bullish expansion in the Yen market, which occurred close to the end of May 2022. As a result, the Bollinger Band Indicator pointed to a squeeze, which resulted in bullish distribution. Following this, the buy traders started purchasing USDJPY value, which led to an increase in its level of isolation.

The USDJPY kept going up when it was able to break above the important zone at 131.280. The number of buyers continues to increase right up until the point where the price reaches the crucial threshold of 135,500. The pricing action went in the opposite direction initially, but it is now buying more orders at a higher price. Even if there was a retracement by sellers on the daily chart, the Parabolic SAR (Stop and Reverse) indicator continues to follow the price’s current trend.

USDJPY Short Term Trend: Bullish

The price has been moving in a range that is now contained within the Bollinger Bands. As a result, we should anticipate a price squeeze and a bullish expansion upward on the 4-hour chart.

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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.