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USD/JPY_SPT - USD/JPY

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USDJPY_SPT trade ideas

💡Don't miss the great sell opportunity in USDJPYTrading suggestion: ". There is still a possibility of temporary retracement to the suggested resistance line (115.25). if so, traders can set orders based on Price Action and expect to reach short-term targets." Technical analysis: . USDJPY is in a downtrend, and the continuation of the downtrend is expected. . The price is above the 21-Day WEMA, which acts as a dynamic support. . The RSI is at 35. Take Profits: TP1= @ 114.77 TP2= @ 114.47 TP3= @ 114.14 TP4= @ 113.79 TP5= @ 113.46 SL: Break Above R2 ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated!❤️ 💎 Want us to help you become a better Forex / Crypto trader? Now, It's your turn! Be sure to leave a comment; let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Short
by ForecastCity_ME
2
USDJPY is ready to refresh five-year highA clear upside break of 20-DMA enables USDJPY bulls to challenge the two-month-old horizontal resistance area, surrounding 115.50-60. Following that, the monthly peak, also the highest levels since January 2017, near 116.35, will be in focus. Although RSI conditions may provide headwinds to the yen pair around the multi-day top, any further advances will not hesitate to challenge the 61.8% Fibonacci Expansion (FE) of October 2021 to January 2022 moves, near 116.90. Should USDJPY prices remain sturdy past 116.90, the 117.00 threshold will act as a validation point for the further rally targeting the year 2017 high of 118.60. On the contrary, the 20-DMA level near 114.80 will test pullback moves of the USDJPY pair ahead of directing the quote to 38.2% Fibonacci retracement (Fibo.) of September 2021 to January 2022 upside, close to 113.50. It’s worth noting, however, that the stated risk barometer pair will have a tough time declining past 113.50 as the 100-DMA and 50% Fibo, around 113.40 and 112.70, will act as strong supports. In a case where the quote drops past 112.70, the bullish trend is likely to witness a major blow with the initial slump to the September high of 112.00. Fundamentally, USDJPY is all set to renew recent tops as the US dollar cheers the Fed’s hawkish halt.
Long
by MTradingGlobal