empty
 
 
07.12.2021 10:42 PM
USD/JPY range pattern

This image is no longer relevant

USD/JPY upside stopped

The USD/JPY pair moves sideways in the short term between 113.80 and 112.76 levels. As you already know from my previous analyses, the currency pair could develop a larger downside movement only if it drops below the 112.76 level.

On the other hand, staying above 112.76 and jumping above the 113.80 previous high could signal an upside continuation. In the short term, it could continue to move sideways before printing a strong move in one direction. Escaping from this pattern could bring great trading opportunities.

USD/JPY trading conclusion

Passing and stabilizing above the 113.80 could announce further growth towards 115.00 psychological level and up to 115.48 higher high.

Ralph Shedler,
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