ForecastCity_ME

💡USDJPY - Weekly technical analysis update

Long
OANDA:USDJPY   U.S. Dollar / Japanese Yen
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

Good analysis as always!
+3 Reply
ForecastCity_ME Mehmetozdemi
@Mehmetozdemi, Thank you for your comment. We appreciate it 🌹
+1 Reply
Very nice chart.
+2 Reply
ForecastCity_ME yusufipek1989
@yusufipek1989, Thank you for your comment. We appreciate it 🌹
+1 Reply
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