ICmarkets

USD/JPY: Technical outlook and review...

FX:USDJPY   U.S. Dollar/Japanese Yen
991 3 1
Weekly timeframe perspective: From the weekly timeframe , we can see that price has been driven deep into a minor weekly decision-point demand area coming in at 118.22-119.40. If the buyers manage to maintain their position within this zone, we may see price attack the weekly Quasimodo resistance level at 122.18.

Daily timeframe perspective: The daily timeframe shows that price spiked below a small daily demand area at 118.61-119.05 yesterday, which as a result, saw price hit and rebound from a minor daily support level seen at 118.32 (located deep within the aforementioned minor weekly decision-point demand area).

4hr timeframe perspective: The kickback from the aforementioned minor daily support level has, as you can probably see, forced price to test a very clean-looking 4hr supply area at 119.64-119.38. Clean it may be, and selling from here could very work out nicely, but, given that both the weekly and daily timeframes are trading from some sort of support (see above) at the moment, we’re going to sit this one out, and see if the buyers can’t break this area of supply.

With this in mind, a clean break above this area may open the doors to intraday buying opportunities up to at least 120.00. Should price manage to get above this handle, we’ll be heavy buyers from that point on up to 120.60/121.00.

Current buy/sell orders:

• Buy orders: Flat (Predicative stop-loss orders seen at: N/A).

• Sell orders: Flat (Predicative stop-loss orders seen at: N/A).

alex.a
2 years ago
Hey, I have another question as a user of icmarkets.
Tradingview shows gbpjpy 177.006 as a closing price on Friday.
Icmarkets shows gbpjpy 177.033 as a closing price on Friday.

More than 30 pips?
Can you explain here, instead of redirecting me to the other folks in icmarkets, transparently why it is so different.
Because you are advertising and representing for icmarkets here. You work for them. You must stand the goodness of them. Please explain here transparently ~
Reply
alex.a
2 years ago
ICMarkets' GBPJPY: 177.033 http://gyazo.com/9925a9ecfdca84b0792fc12e1be5d01a
Tradingview's GBPJPY: sorry, not 177.006, rather 177.193 https://www.tradingview.com/e/RnkWBGYG/
Reply
alex.a alex.a
2 years ago
Let them come here to clearly explain icmarket's words transparently. Thank you for your cooperation.
Reply
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