Possible longs from the 100.61/100.87

FX:USDJPY   U.S. Dollar / Japanese Yen
160 0
In recent trading, we saw the USD plummet on the back of week US data, taking out the 103 handle, the H4 mid-way support 102.50 and just recently the H4 demand base seen at 101.74-101.90. With a truckload of buyers likely taken out from this recent move, there is space now seen to move lower down to test the H4 support 100.87. In addition to this, a minor daily support level at 102.38 was also engulfed during yesterday’s selling, which, as you can probably see, has opened the path down to weekly support coming in at 100.61.

Our suggestions: Between the current weekly support and H4 support (100.61/100.87), there is a good chance that price will bounce from this region should the couple strike this area today. Bolstered by a H4 trendline support taken from the low 99.64 as well as a H4 78.6% Fib support at 100.56, this area has sufficient confluence, in our opinion, to condone a pending buy order with a stop placed at 100.48.
Get real-time trading updates at our official Telegram group : https://t.me/ICMarketsroom
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
HE עברית
Home Stock Screener Forex Screener Crypto Screener 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