πŸ’‘ USDJPY . Weekly Technical Analysis Update

OANDA:USDJPY   U.S. Dollar / Japanese Yen
Midterm forecast:
While the price is above the support 103.15, beginning of uptrend is expected.
We make sure when the resistance at 106.00 breaks.
If the support at 103.15 is broken, the short-term forecast -beginning of uptrend- will be invalid.

Technical analysis:
While the RSI resistance #1 at 57 is not broken, the probability of price increase would be too low.
A peak is formed in daily chart at 105.65 on 11/10/2020, so more losses minimum to Major Support (103.15) is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index ( RSI ) is 45.

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+2 Reply
ForecastCity Forecast_Crypto
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ForecastCity Mesutkashmar
@Mesutkashmar, We appreciate your comment.
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ForecastCity DenizKilicDeniz
@DenizKilicDeniz, Thank you for your comment. We appreciate it and wish you the best of luck.
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@kingzizi, We appreciate your comment.
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