empty
 
 
31.05.2022 07:12 AM
USDJPY Potential For Bullish Continuation | 31th May 2022

This image is no longer relevant

On the H4, with prices breaking above the ichimoku indicator and breakout from descending trendline, we have a bullish bias that price will rise from our 1st support at 128.070 where the horizontal overlap resistance and 78.6% fibonacci projection are to our 1st resistance at 128.899 in line with the swing high resistance, 127.2% Fibonacci extension and 78.6% fibonacci retracement. Alternatively, price may break 1st support structure and head for 2nd support at 127.164 where the horizontal overlap support is.

Trading Recommendation

Entry: 128.070

Reason for Entry:

Horizontal overlap resistance

Take Profit:128.899

Reason for Take Profit:Horizontal swing high resistance, 127.2% Fibonacci extension and 78.6% fibonacci retracement

Stop Loss: 127.164

Reason for Stop Loss:

Horizontal overlap support

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 $1000 more!
    In April we raffle $1000 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