empty
 
 
07.02.2023 03:16 PM
Trading signal for USD/JPY on February 7-8, 2023: sell below 132.40 (21 SMA- GAP)

This image is no longer relevant
Early in the American session, the USD/JPY pair is trading at 131.88, below the 21 SMA and above the 200 EMA. We can see a slight recovery in the Japanese yen. It is likely to fall and cover the gap that it left around 131.17 and the second one located at 130.32.

As long as the Japanese yen trades below 132.40 (21 SMA), there is a chance that any bounce will be seen as a signal to sell. The eagle indicator reached the extreme overbought zone and a technical correction is likely to form in the coming days.

Above 132.50, the Japanese yen is likely to resume its bullish cycle so that it could reach 3/8 Murray around 134.37 and ultimately head for the psychological level of 135.00.

Our trading plan for the next few hours is to sell below 132.40, with targets at 131.25 and 130.40 (200 EMA). The eagle indicator is giving a negative signal which supports our bearish strategy.

Dimitrios Zappas,
Analytical expert of InstaForex
© 2007-2023
USDJPY
US Dollar vs Japanese Yen
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Start trade
Start trade
  • 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

Recommended Stories

March 24, 2023 : EUR/USD daily technical review and trading opportunities.

The price level of 1.0800 remained a significant resistance level to offer SELL opportunities until the current upside movement was expressed. The next target is located around 1.1000 where

Mohamed Samy 16:55 2023-03-24 UTC+2

March 24, 2023 : EUR/USD Intraday technical analysis and trading plan.

Price action around the key-level of (1.0550-1.0600) was quite bullish. That's why, further bullish continuation towards 1.0800 was demonstrated. Moreover, more bullish advancement towards the nearest supply zone around 1.1150-1.1200

Mohamed Samy 16:54 2023-03-24 UTC+2

March 24, 2023 : GBP/USD Intraday technical analysis and significant key-levels.

The GBPUSD bulls failed to record a new high above 1.2200. Instead, a descending high was established around the same price level. Bearish pullback pursued towards the price levels

Mohamed Samy 16:53 2023-03-24 UTC+2

GBP/USD: reversal pattern activated

The GBP/USD pair crashed in the short term as the Dollar Index rebounded. Yesterday, I talked about exhausted buyers and about a Rising Wedge pattern. The pair's trading at 1.2225

Ralph Shedler 16:48 2023-03-24 UTC+2

Trading Signal for USD/JPY for March 24 - 27, 2023: buy above 130.10 (3/8 Murray - rebound)

Early in the US session, the Japanese Yen is trading around 130.10 bouncing after reaching a low around 129.62, the level which coincides with 3/8 Murray (129.68). Japanese yen like

Dimitrios Zappas 15:14 2023-03-24 UTC+2

EUR/USD: technical analysis on March 24, 2023

Hello, dear traders! On Thursday, EUR/USD reversed to the downside and almost approached the lower line of the ascending trend corridor, which indicates a bullish bias. Consolidation below the corridor

Samir Klishi 11:25 2023-03-24 UTC+2

GBP/USD: technical analysis on March 24, 2023. BoE raises rates for 11th time

Hello, dear traders! On the 1-hour chart, GBP/USD bounced off 1.2342, reversed to the downside, and headed toward 1.2238 and the lower limit of the ascending corridor. This line illustrates

Samir Klishi 11:25 2023-03-24 UTC+2

Forex forecast 03/24/2023 GBP/USD, USD/CHF, USD/CAD and Bitcoin from Sebastian Seliga

Let's take a look at the technical picture of GBP/USD, USD/CHF, USD/CAD and Bitcoin

Sebastian Seliga 09:59 2023-03-24 UTC+2

Video market update for March 24, 2023

Potential for the rally on USD/JPY

Petar Jacimovic 09:35 2023-03-24 UTC+2

USD/JPY analysis for March 24, 2023 - Potential for the rally

Technical analysis: USD/JPY has been trading downside in the background but I found falling wedge pattern in creation and potential upside movement. Due to potential downside exhaustion and bull crosses

Petar Jacimovic 09:35 2023-03-24 UTC+2
现在无法通话?
提出您的问题,用 在线帮助.