USD/JPY breaks hourly 100-SMA, good to long dips

FX:USDJPY   U.S. Dollar / Japanese Yen
353 0 13
USD/JPY             turned higher from the low of 100.08 levels to near 5-DMA level of 100.58 levels.

The pair has taken major trendline support at 100.08, weakness only on break below.

Technical studies are slightly positive, pair could test 101.25 (Sept 23 high). A decisive break above hourly 100-SMA at 100.81 could see upside gain traction.

Violation at 101.25 levels will then see scope for test of 102 (20-DMA) and then 102.50 ( trendline ).

Weekly charts have a bearish bias. Break below major trendline support at 100.10 could see downside upto 98.78.

Major support levels - 100.08 (session low & trendline ), 100, 99.54 (Aug 16 low), 98.78 (June 24 low)

Major resistance levels - 100.93 (Aug 22 high), 101, 101.35 (10-DMA), 102, 102.03 (20-DMA), 102.50 ( trendline )

Good to go long on dips, SL: 100, TP: 101/ 101.25/ 101.35/ 102
Comment: USD/JPY hits new weekly high of 101.56.

Bias higher. Next hurdle 20-DMA at 101.79.

Break above finds major trendline resistance at 102.15.

Weakness only below 100.25 (trendline).

Book partial profits. Hold for upside.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out