empty
 
 
24.05.2022 09:59 AM
USDJPY Potential For Bearish Continuation | 24th May 2022

This image is no longer relevant

On the H4, with prices moving below the Ichimoku indicator, we have a bearish bias that price will drop from our 1st resistance at 128.099 where the 38.2% Fibonacci retracement and horizontal overlap resistance is to our 1st support at 126.988 in line with the 78.6% Fibonacci projection and horizontal swing low support. Price may break through the 1st support and head for the 2nd support at 125.981 where the 100% Fibonacci projection is. Alternatively, price may break 1st resistance structure and head for 2nd resistance at 128.869 where the horizontal swing high resistance and 61.8% Fibonacci retracement are.

Trading Recommendation

Entry: 128.099Reason for Entry:38.2% Fibonacci retracement and Horizontal overlap resistanceTake Profit: 126.988

Reason for Take Profit:78.6% Fibonacci projection and Horizontal swing low support

Stop Loss: 128.869Reason for Stop Loss:

Horizontal swing high resistance and 61.8% Fibonacci retracement

Dean Leo,
Analytical expert of InstaForex
© 2007-2024
通过InstaForex赚取加密货币汇率变动的收益。
下载MetaTrader 4并开启您的第一笔交易。
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

推荐文章

现在无法通话?
提出您的问题,用 在线帮助.
Widget callback