Get started
easyMarkets

USDJPY approaching resistance, watch for breakout!

Long
U.S. Dollar / Japanese Yen (FX:USDJPY)  
easyMarkets Broker  
FX:USDJPY   U.S. Dollar / Japanese Yen
Trend Analysis Harmonic Patterns Chart Patterns USDJPY USD jpy usdjpylong usdjpyshort Forex forextrading
2
0
trendanalysis harmonicpatterns chartpattern usdjpy usd jpy usdjpylong usdjpyshort forex forextrading
USDJPY is approaching our first resistance at 109.25 (horizontal overlap resistance, 50% Fibonacci retracement, 61.8% Fibonacci extension) and a breakout above this level might cause a strong rally to occur, pushing price up to our major resistance at 110.32 (horizontal overlap resistance, 61.8% Fibonacci retracement). Ichimoku cloud is also showing signs of bullish pressure in line with our bullish bias.

RSI (34) is also seeing a bullish exit and we might see a corresponding rise in price.

Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.

Come join us today at : www.easymarkets.com/
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.