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ForecastCity_World
Feb 7, 2021 2:33 PM

💡USDJPY - Weekly technical analysis update Long

USD/JPYOANDA

Description

Midterm forecast:
102.60 is a major support, while this level is not broken, the Midterm wave will be uptrend.

Technical analysis:
The RSI downtrend #1 is broken, so the probability of continuation of uptrend is increased.
A peak is formed in daily chart at 103.35 on 01/21/2021, so more losses to support(s) 104.45, 104.15, 103.15 and minimum to Major Support (102.60) is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 69.

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Comments
sofi_Morphy
Totally agree with you my dear
ForecastCity_World
@sofi_Morphy, Thanks for sharing your view.
Kamryn
Thank you 😊 very useful analysis, Cheers 👍
ForecastCity_World
@Kamryn, Welcome!
Jossseph
I think first it would make a retest and the go up
ForecastCity_World
@Jossseph, Thanks for sharing your feedback. We appreciate it
MASTERPIECE10
I agree with your correction.
ForecastCity_World
@FX-SMARTCLIENTELE, Thanks. We appreciate your comment.
TRADiNG_hub
buy on pullbackk..
ForecastCity_World
@TRADiNG_hub, Thanks for your feedback.
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