Technical analytics

USDJPY market technical outlook

USDJPY

Daily chart:

Bulls successfully broke resistance 108.47, that allows them to reckon on continuation of the quotes’ growth with following settling above the 109.00 level.

One of the classic execution of such movement implies pullback to broken level 108.47, which is the most optimal zone for long-trades.

H1-chart:

Local upward structure is forming new trending upswing. Thus we can expect break of the closest high (108.91) and attempt to stabilize above 109.00.

Conclusions:

Growth towards 109.00 and 109.50.

Trading recommendations:

Longs towards 109.00 and 109.50.

 

New articles