Symbol - USDJPY
CMP - 150.25
USDJPY pair is experiencing an upward movement in line with the performance of the US dollar. A temporary reversal is currently unfolding, driven by domestic political and economic factors in the United States.
The price is consolidating in the range of 149.40 - 148.60 after a significant decline. This long-term consolidation is creating a reversal pattern, further supported by the reversal and strengthening of the US dollar. Consequently, the Japanese yen is losing ground.
Key resistance is located at 150.30, should the bulls manage to maintain support above this level, there is potential for further price appreciation toward trend resistance in the short to medium term.
Resistance levels: 150.30, 150.95
Support levels: 149.40, 149.15
At present, the market is in a downtrend, with potential for a counter-trend correction. The direction of the price will depend on the US dollar's performance and upcoming economic news. If the outcome is favorable, the price could potentially reach 152.30
CMP - 150.25
USDJPY pair is experiencing an upward movement in line with the performance of the US dollar. A temporary reversal is currently unfolding, driven by domestic political and economic factors in the United States.
The price is consolidating in the range of 149.40 - 148.60 after a significant decline. This long-term consolidation is creating a reversal pattern, further supported by the reversal and strengthening of the US dollar. Consequently, the Japanese yen is losing ground.
Key resistance is located at 150.30, should the bulls manage to maintain support above this level, there is potential for further price appreciation toward trend resistance in the short to medium term.
Resistance levels: 150.30, 150.95
Support levels: 149.40, 149.15
At present, the market is in a downtrend, with potential for a counter-trend correction. The direction of the price will depend on the US dollar's performance and upcoming economic news. If the outcome is favorable, the price could potentially reach 152.30
Trade closed manually
USDJPY went till 151.30 & +100 pips in profit & then falling again because of Trump's statements.Closed at cost.
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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.
Trading isn’t a gamble. When skill meets discipline - profit becomes the natural outcome.
Join me, I'll guide you to PROFITABLE TRADING.
Join me, I'll guide you to PROFITABLE TRADING.
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.