empty
 
 
21.07.2020 12:51 PM
USD/JPY Breakout Expected Soon!

This image is no longer relevant

USD/JPY is trading in a range between 107.40 and 106.70 levels. We'll have a great trading opportunity when the price escapes from this extended sideways movement. The pair is under buying pressure, you can notice that USD/JPY is holding near the 107.40 - 107.39 resistance area, the upside obstacle, after the failure to come back down towards the downside line of this range.

The bias is bullish, and the buyers will hold the upper hand as long as USD/JPY is trading above the uptrend line. A breakout above the 107.40 level, another peak high, top/higher high, will validate a further increase in the upcoming days.

On the other hand, a failure to reach the 107.40 level again, or a rejection, followed by a breakdown, drop, below the uptrend line will signal another downside movement towards the 106.70 static support.

  • USD/JPY Trading Recommendations

Buy USD/JPY if the pair jumps above the 107.40 level, the first upside target is seen at the 107.72 levels. A selling opportunity could appear if USD/JPY drops below the uptrend line. This scenario will signal another sell-off/decline towards the 106.70 static support/downside obstacle.

Summary
Urgency
Analytic
Ralph Shedler
Start trade
Gana con los cambios en el valor de las criptomonedas con InstaForex.
Descarga MetaTrader 4 y abre tu primera operación.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    UNIRSE AL CONCURSO
  • Depósito al azar
    ¡Haga un depósito en su cuenta de $3,000 y obtenga $1000 más!
    ¡En Febrero, sorteamos $1000 dentro de la campaña Depósito afortunado!
    Obtenga la oportunidad de ganar depositando $3,000 en una cuenta de operaciones. Tras haber cumplido esta condición, se convertirá en un participante de la campaña.
    UNIRSE AL CONCURSO
  • Opere de forma inteligente, gane un dispositivo
    Recargue su cuenta con al menos $500, regístrese en el concurso y tenga la oportunidad de ganar dispositivos móviles.
    UNIRSE AL CONCURSO
  • 30% de bonificación
    Reciba un bono del 30% cada vez que recargue su cuenta
    OBTENER BONO

Recommended Stories

¿No puede hablar ahora mismo?
Ingrese su pregunta en el chat.
Widget callback