USDJPY Falls Into a Ranging Market After Failing To Attain a Higher Height

Azeez Mustapha
9 September 2021 | Updated: 9 September 2021

USDJPY Price Analysis – September 9

USDJPY falls into a ranging pattern as it fails to make a significant high or low for that matter. This is a pointer to the fact that the market remains in equilibrium with neither buyers nor sellers making prominent moves in the market. This comes about after bulls have been unable to lift the price back to an uptrend despite preventing it from sinking below the 108.900 key level.


USDJPY Crucial Levels

Resistance Levels: 110.430, 110.800, 111.650
Support Levels: 109.570, 108.900, 108.600

USDJPY falls into a rangingUSDJPY Long Term Trend: Ranging

The market remained on an uptrend from the 23rd of April 2021, despite falling from the resistance at 110.800. Bulls drove the price higher in an uptrend, with the market making higher highs and lows in a row. This helped the market past the 110.800 resistance where it falls from at the beginning of April. However, USDJPY will only make it as far as 111.650 before bearish pressure begins to tell on the market again. From there, price slipped down and out of the uptrend.

The 108.900 helped to prevent further falls and cause a reversal in the market direction. The 110.800 resistance level will come to haunt the bulls again to prevent upward movement. From there, the price eventually fell to 109.570 and since then hasn’t been able to rise above 110.430, thereby ranging between the two levels. This might continue for a while, although there is an intent to break to the upside. The Elders Force Index, whose power line is at a positive value indicates more bulls working in the background.

USDJPY falls into a rangingUSDJPY Short Term Trend: Bearish

Within the consolidation zone on the 4-hour chart, the price can be seen undulating, but with a more bullish intent as a new higher high was created and maintained. The Relative Strength Index (RSI) also shows that the market is in the buying half of its chart at level 53 and the EFI remains above the zero level. Currently, the price has hit the 110.430 resistance and is on a descent towards 109.570 again. But, ultimately, the market is expected to break to the upside of the ranging zone.

You can purchase crypto coins here: Buy coins

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
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • 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.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
9.8
  • 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
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
Share with other traders!
Azeez Mustapha

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.