USD/JPY, D1
On the daily chart, the instrument is trading at the top of the Bollinger Bands. The indicator is directed upwards, while the price range has expanded, which serves as the basis for the continuation of the downward trend. The MACD histogram is in the positive area, keeping a strong buy signal. Stochastics left the overbought area, forming a strong sell signal.
USD/JPY, H4
On the 4-hour chart, the tool is testing a strong support level of 112.00. Bollinger Bands are directed upwards, while the price range is narrowing, indicating a high probability of the current trend reversal. MACD is in the positive zone, the volumes of the histogram are reduced, the buy signal is still relevant. Stochastic does not give clear signals for entering the market.
Key levels
Support levels: 112.00, 111.50, 111.00, 110.35, 109.95.
Resistance levels: 112.55, 112.85, 113.35, 113.70.
Trading tips
Short positions should be opened from the level of 111.90 with the goal of 111.30 and stop loss at 112.15. Term of realization: 1-2 days.
It is possible to open long positions at the level of 112.20 with targets at 112.65, 112.90 and stop loss at 111.90. Implementation period: 1-3 days.
On the daily chart, the instrument is trading at the top of the Bollinger Bands. The indicator is directed upwards, while the price range has expanded, which serves as the basis for the continuation of the downward trend. The MACD histogram is in the positive area, keeping a strong buy signal. Stochastics left the overbought area, forming a strong sell signal.
USD/JPY, H4
On the 4-hour chart, the tool is testing a strong support level of 112.00. Bollinger Bands are directed upwards, while the price range is narrowing, indicating a high probability of the current trend reversal. MACD is in the positive zone, the volumes of the histogram are reduced, the buy signal is still relevant. Stochastic does not give clear signals for entering the market.
Key levels
Support levels: 112.00, 111.50, 111.00, 110.35, 109.95.
Resistance levels: 112.55, 112.85, 113.35, 113.70.
Trading tips
Short positions should be opened from the level of 111.90 with the goal of 111.30 and stop loss at 112.15. Term of realization: 1-2 days.
It is possible to open long positions at the level of 112.20 with targets at 112.65, 112.90 and stop loss at 111.90. Implementation period: 1-3 days.