USD/JPY, D1
On D1 chart the pair corrected to the middle line of Bollinger Bands. The price made yet another attempt to consolidate above the level of 110.00. MACD histogram is in the negative zone keeping the sale signal. Stochastic is located in the neutral zone and does not provide clear signals.
USD/JPY, H4
On H4 chart the instrument is growing along the upper border of Bollinger Bands. The range of the indicator is widened showing possible continuation of price growth. MACD histogram is in the positive area with gradually growing volumes. The signal line crosses the zero line and the body of the histogram in the upward direction giving a clear signal for the opening of long orders. Stochastic is moving within the limits of the neutral zone, and the signal line is directed downwards.
Key levels
Support levels: 110.00, 109.00, 108.00.
Resistance levels: 110.70, 111.50, 112.30, 113.00, 114.30, 115.00.
Trading tips
In the short term the most preferable scenario is the opening of long positions from the current price with targets at 110.70, 111.00 and stop-loss at 109.90.
The period of implementation is 1-2 days.
In the medium and long term short positions may be opened from the level of 109.70 with target at 109.00 and stop-loss at 110.20.
The period of implementation is 2-5 days.
On D1 chart the pair corrected to the middle line of Bollinger Bands. The price made yet another attempt to consolidate above the level of 110.00. MACD histogram is in the negative zone keeping the sale signal. Stochastic is located in the neutral zone and does not provide clear signals.
USD/JPY, H4
On H4 chart the instrument is growing along the upper border of Bollinger Bands. The range of the indicator is widened showing possible continuation of price growth. MACD histogram is in the positive area with gradually growing volumes. The signal line crosses the zero line and the body of the histogram in the upward direction giving a clear signal for the opening of long orders. Stochastic is moving within the limits of the neutral zone, and the signal line is directed downwards.
Key levels
Support levels: 110.00, 109.00, 108.00.
Resistance levels: 110.70, 111.50, 112.30, 113.00, 114.30, 115.00.
Trading tips
In the short term the most preferable scenario is the opening of long positions from the current price with targets at 110.70, 111.00 and stop-loss at 109.90.
The period of implementation is 1-2 days.
In the medium and long term short positions may be opened from the level of 109.70 with target at 109.00 and stop-loss at 110.20.
The period of implementation is 2-5 days.