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24.03.2023 07:07 AM
USDJPY, H4 | Strong descending trendline ?

The USD/JPY pair currently has a weak momentum with low confidence due to its position below a major descending trend line, indicating possible bearish momentum. Breaking off from the first support at 130.39 could lead to a potential drop to the second support level at 128.10, which is a multi-swing low support level. On the resistance side, there are two overlap resistance levels at 132.81 and 134.55. However, due to the weak momentum and low confidence, it's challenging to predict whether the price will break above or below these levels.

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Dean Leo,
Analytical expert of InstaForex
© 2007-2023
USDJPY, Daily | Continue to the resistance level?
USD/JPY chart shows bullish momentum with the price above an ascending trendline. The first support level at 137.65, an overlap support and 50% Fibonacci retracement, is significant for buyers. The second support at 134.31, a multi-swing low support, serves as a strong defense against price.
Author: Dean Leo
01:33 2023-06-05 UTC--4
1795
XAUUSD , Daily | Bounce off Support?
The XAU/USD chart shows bullish momentum, with potential for further upward movement. The first support level at 1935.46, coinciding with the 50% Fibonacci retracement, is significant for buyers. The second support at 1859.67, aligned with the 78.60% Fibonacci retracement, acts as a strong price.
Author: Dean Leo
01:29 2023-06-05 UTC--4
1750
GBPUSD , Daily | Falling tp Support??
The GBP/USD chart currently shows a bearish momentum, indicating a downward trend. There is a possibility for the price to continue its bearish movement, targeting the first support level. The first support at 1.2245 is a significant level, acting as an overlap support and coinciding with key.
Author: Dean Leo
01:25 2023-06-05 UTC--4
1435
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