USDJPY Shows Signs of Trend Change From an Upward Direction

Azeez Mustapha

Updated:

Unlock Daily Forex Signals

Select a Plan

£39

1 - month
Subscription

Select

£89

3 - month
Subscription

Select

£129

6 - month
Subscription

Select

£399

Lifetime
Subscription

Select

£50

Separate Swing Trading Group

Select

Or

Get VIP forex signals, VIP crypto signals, swing signals, and forex course free for lifetime.

Just open an account with one our affiliate broker and make a minimum deposit: 250 USD.

Email [email protected] with a screenshot of funds on account to get access!

Sponsored by

Sponsored Sponsored
Checkmark

Service for copy trading. Our Algo automatically opens and closes trades.

Checkmark

The L2T Algo provides highly profitable signals with minimal risk.

Checkmark

24/7 cryptocurrency trading. While you sleep, we trade.

Checkmark

10 minute setup with substantial advantages. The manual is provided with the purchase.

Checkmark

79% Success rate. Our outcomes will excite you.

Checkmark

Up to 70 trades per month. There are more than 5 pairs available.

Checkmark

Monthly subscriptions begin at £58.


USDJPY Analysis – July 14

USDJPY shows signs of trend change from an upward direction in the market as it approaches upthrust after distribution (UTAD). On the daily timeframe, the market keeps rallying and forming higher highs and higher lows. Until March 4, 2022, the market had been in an accumulation phase, only to break out in the same upward direction as before the consolidation.


USDJPY Major Levels

Resistance levels: 135.280, 147.630
Support levels: 131.350, 125.860

USDJPY Shows Signs of Trend Change From an Upward DirectionUSDJPY Long-term Trend: Bearish

The bulls appear to be offloading their long positions in favour of the bears. As indicated by the Simple Moving Average (SMA), the current market trend in the upward direction began on March 4, 2022, following the accumulation phase. Prices rose to the previous resistance level of 125.860, only to breach it and face a higher resistance level of 131.350. The previous resistance level at 131.350 pushed the USDJPY market into a reaccumulation zone, resulting in a quick rally and a fair value gap that will need to be filled later.

After breaking out of the accumulation area, the USDJPY market rallied towards the distribution area, hitting resistance at 135.280 before diving down to form a swing low at the 131.350 support level, indicating a sign of weakness (SOW) of the market trend in the upward direction. The Moving Average Convergence Divergence Indicator revealed that the market is currently ranging around the resistance level of 135.280. Once the market has finished distributing, the USDJPY is expected to fall, forming the markdown phase according to the Wyckoff law of the price cycle.

USDJPY Shows Signs of Trend Change From an Upward DirectionUSDJPY Short-term Trend: Ranging

The Wyckoff distribution area can be seen in detail over the four-hour timeframe. Phase A denotes the end of the previous upward market trend. Preliminary supply (PSY) and the buying climax (BC) provided the first significant evidence of supply entering the market until the end of phase A on June 16, 2022. In phase B, the bulls are liquidating their long positions, while the bears are opening short positions in anticipation of the markdown.
The USDJPY market is expected to complete the Wyckoff distribution area and fake out the resistance level at 135.280, then sink towards the support level at 125.860, after which the market might continue the prior market trend in an upward direction.

How To Buy Lucky Block 

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
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Share with other traders!

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.

Leave a Reply

Your email address will not be published. Required fields are marked *