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ForecastCity_ME
Feb 7, 2021 2:37 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
Mehmetozdemi
Good analysis as always!
ForecastCity_ME
@Mehmetozdemi, Thank you for your comment. We appreciate it 🌹
yusufipek1989
Very nice chart.
ForecastCity_ME
@yusufipek1989, Thank you for your comment. We appreciate it 🌹
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