Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 minutes to learn more
Market Analysis – September 12
USDJPY market structure remains bullish. The market has established a new bullish break-off structure, indicating its resilience and positive outlook. Since the double bottom formation in July, the price has been consistently rising, creating a strong upward trajectory.
Key Levels for USDJPY
Demand Levels at 145.00, 141.60, and 138.10
Supply Levels at 150.30, 152.00, and 154.00
USDJPY Long-Term Trend: Bullish
The Williams Percent Range indicator indicated that the price initially decreased from the overbought level of 145.0 in July. However, the market strategically utilized the liquidity found at the relative equal lows, resting at 136.10. It was used to engineer the current bullish wave.
I
Following an oversold signal in July, a significant price surge occurred. A retracement followed this surge, forming a double-bottom bullish reversal pattern. The subsequent retest of the neckline of this pattern further fueled the price’s ascent.
Higher highs and lows have consistently characterized the price action since the resumption of the bullish trend in July. They started from the oversold region. Additionally, the daily candles remain consistently above the Moving Average line and within the Bollinger Bands, further signifying bullish sentiment. The market’s current objective is to reach a high of 150.30.
USDJPY Short-term Trend: Bullish
In the short-term trend for USDJPY, we continue to observe a bullish outlook. A recent bullish break-off structure pushed the price above 147.40. On the four-hour chart, the market experienced a temporary pullback, finding support at the lower Bollinger Band. The Williams Percent Range indicated an oversold condition during this test of the band. This stimulated buying pressure through long orders.
I
Presently, the market is in the process of establishing a new internal break-off structure. This indicates its capacity to adapt and evolve.
II
The Williams Percent Range is currently signaling the potential for a pullback. This is anticipated to provide an opportunity for buyers to regain momentum. This momentum is expected to drive the price closer to the long-term target of 150.30.
I
Do you want to take your trading to the next level? Join the best platform for that here
- Broker
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
9.8
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
9
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
9.8
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
9
Learn to Trade
Never Miss A Trade Again
step 1
Signal Notification
Real-time signal notifications whenever a signal is opened, closes or Updated
step 2
Get Alerts
Immediate alerts to your email and mobile phone.
step 3
Entry Price Levels
Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.
