26.05.202212:49 Forex Analysis & Reviews: Technical review for USD/JPY: price may bounce up

USD/JPY found support at 126.50. Rising risk appetite, as well as a decrease in US Treasury yields, may push the pair further up, especially if the US GDP data for the 1st quarter exceeds expectations.

technical picture:

The quote is below the middle line of the Bollinger indicator, under the SMA 5 and SMA 14. The relative strength index (RSI) is below 50% and is indicating a slowdown in the price decline, while the stochastic indicator is steadily moving down.

Possible dynamics:

A rise and consolidation above 126.50 may lead to a local growth to 127.50.

Exchange Rates 26.05.2022 analysis

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Pati Gani,
Analytical expert of InstaForex
© 2007-2022
Benefit from analysts’ recommendations right now
Top up trading account
Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

  • 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.
  • Ferrari from InstaForex
    Top up your account with at least $1,000
    join the contest and win Ferrari
    F8 Tributo
  • Chancy Deposit
    Deposit your account with $3,000 and win $1,000
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
Can't speak right now?
Ask your question in the chat.