empty
 
 
25.04.2022 09:41 AM
USDJPY Potential For Bearish Reversal | 25th April 2022

This image is no longer relevant

On the H4 timeframe, price is abiding by the ascending trendline. We see the potential of a bearish reversal from 1st resistance level of 129.261 in line with 61.8% fibonacci retracement and 100% fibonacci projection towards the 1st support level of 127.779 which is in line with 23.6% fibonacci retracement and 61.8% fibonacci projection. Otherwise, price might break the key resistance level and trigger for a rise towards the 2nd resistance level of 130.003 in line with 127.2% fibonacci extension.

Trading Recommendation

Entry: 129.261

Reason for Entry: 61.8% fibonacci retracement and 100% fibonacci projection

Take Profit: 127.779

Reason for Take Profit: 23.6% fibonacci retracement and 61.8% fibonacci projection.

Stop Loss: 130.003

Reason for Stop Loss:

127.2% fibonacci extension.

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 $9000 more!
    In May we raffle $9000 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