empty
 
 
09.03.2018 04:30 AM
USD/JPY rising perfectly, remain bullish for a further rise

The price has rose perfectly to our first profit target and has surpassed that level. We are now seeing the major support at 106.41 (breakout level, Fibonacci retracement, horizontal overlap support) that should provide the support we need to see the price to push up to 107.09 resistance (Fibonacci retracement, horizontal swing high resistance).

RSI (34) has made a nice bearish exit from our long-term descending resistance-turned-support line signalling that a rally is expected.

Buy above 106.41. Stop loss at 106.18. Take profit at 107.09.

This image is no longer relevant

Dean Leo,
Analytical expert of InstaForex
© 2007-2024
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