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We dont have any well-defined signal,but trend is upward.
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e dont have any well-defined signal,but trend is upward.Quote:
Originally Posted by forexking2
Buy from 89.85
Yesterday’s strong rebound from 77.95 to 78.59 signals low has been formed and the decline from 78.88 (last week’s high) has possibly ended there, hence consolidation with upside bias remains for gain towards this resistance, break there would extend recent upmove from 77.44 to 79.00, then previous resistance at 79.23 but a breach of this level is needed to retain bullishness.
In my view USDJPY still in bullish sentiment now and may rises today. it is shown by the price that's moving above 78.19 resistance level. I think USDJPY has a chance to reach and test the 78.61 resistance today or even higher
Spoiler:
USDJPY has formed a cycle bottom at 77.94 on 4-hour chart. Further rise to test 78.86 resistance could be seen,
a break above this level could signal resumption of the uptrend from 77.43, then next target would be at 80.00 area. Support is at 77.94, only break below this level could bring price back to 77.00 area.
Couple sandwiched inside converging triangle on the daily chart, while catching what or motion-dangerous occupation, must wait for a trend, which I think will start at the break of one of the edges of the triangle.
Trend is expected today: UP
District powerful Today: 78.30
The pair above 78.30 to buy the following objectives 78.50 and then 78.75
The pair down 78.30 for sale the following objectives 78.05 and then 77.80
The U.S. Dollar was higher against the Japanese Yen on Friday.
USD/JPY was trading at 78.35, up 0.02% at time of writing.
The pair was likely to find support at 77.95, Thursday’s low, and resistance at 78.71, Monday’s high.
usd/yen unable stability without resistance for the descending channel yesterday, positively influenced by stochastic and is now trying to bypass the MA 50.
This factor we're back to neutral in order to monitor the disposal price for levels of support 78.00 and resistance 79.20
The main trend is moving down in price channel, prices seen moving in correction towards 78.50, then potentially bounce down the main trend to continue.
we have a resistance level on the daily chart @23.6% so i predict that USDJPY will move downward on the short term our target point will be@0%.