empty
 
 
21.11.2017 02:50 PM
Technical analysis of USD/JPY for November 21, 2017

This image is no longer relevant

USD/JPY is expected to trade with a bullish outlook. The pair posted a rebound from 111.90 and broke above its 20-period and 50-period moving averages. In addition, a bullish cross between 20-period and 50-period moving average has been identified. The relative strength index is bullish, calling for a further upside.

Hence, above 112.20, look for a new challenge with targets at 112.75 and 113.00 in extension.

Alternatively, if the price moves in the opposite direction, a long position is recommended below 112.20 with a target at 111.90.

Chart Explanation: The black line shows the pivot point. The current price above the pivot point indicates a bullish position, while the price below the pivot point is a signal for a short position. The red lines show the support levels and the green line indicates the resistance level. These levels can be used to enter and exit trades.

Strategy: BUY, Stop Loss: 112.20, Take Profit: 112.75

Resistance levels: 112.75, 113.00 and 113.45 Support Levels: 111.90, 111.60, 111.15

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first 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

Can't speak right now?
Ask your question in the chat.
Widget callback