USDJPY Price Value Increases Due to Bullish Strength

USDJPY Price Analysis: March 10

USDJPY Price is moving higher due to bullish strength. The market order flow broke through the 115.800 resistance level, and the price is expected to shoot higher. A bullish expectation is inevitable if the bulls buy more positions. However, we should also anticipate a retest in the market around the critical level of 115.800 before the bulls commence their journey in the USDJPY market.

USDJPY Market Levels

Resistance Levels: 115.800, 112.610
Support Levels: 110.820,108.710

USDJPY Long Term Trend: Bullish

The market first developed with a strong accumulation in price before the bullish breakout. The bulls and bears were inactive from June to mid-September until price action changed the market tendency. The activities of the buyers played out when the price broke through the key level of 110.820. The USDJPY begins to mobilize upward after a retest again by the sellers on the 110.820 key zones before bullish continuation.

The buyers succeeded in smashing through levels of influence in the market. As the bullish rally progresses, the Parabolic SAR (Stop and Reverse) indicator also follows the price trend in the market as numerous significant levels are attained. Currently, the price has broken through the 115.800 resistance level, and the bulls are not relenting in shooting higher. A breakthrough is inevitable if more momentum is added to the bullish force.

USDJPY Short Term Trend: Bullish

The 4-hour chart market shows prices oscillating near the Bollinger Band indicator. The bears are driving price movement for a retest near the 115.800 significant level before further continuation. The Parabolic SAR still gives bullish confirmation in the market as long as bullish orders are set to continue higher beyond the 115.800 price level.

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