empty
 
 
18.05.2021 03:42 PM
USDJPY double top at 109.70

USDJPY is trading around 108.92. Price is pulling back after making a double top around 109.70 where we find also the 61.8% Fibonacci retracement of the decline from 110.90 to 107.50. Price so far continues to respect a key trend line support and as long as we trade above it, bulls have hopes of recapturing 110.

This image is no longer relevant

Red line - support

Blue lines -Fibonacci retracements

Support by the red trend line is at 108.55 area. Resistance from the double top is at 109.70. If price holds support and turns higher we will have a sign of strength. Breaking above 109.70 will be a bullish confirmation as the price resistance at 109.70 is already confirmed resistance. If support at 108.55 area fails to hold and price moves below it and stays below it, then we should not rule out a deeper correction towards 106. The red trend line support has proven strong so far as it has been tested several times before. Breaking it will be an important sign of weakness.

USDJPY
US Dollar vs Japanese Yen
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Start trade
Start trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    THAM GIA CUỘC THI
  • Tiền gửi lần truy cập
    Ký quỹ tài khoản của bạn với $3000 và nhận được $8000 nhiều hơn!
    Trong Tháng 3 chúng tôi xổ $8000 trong chiến dịch Chancy Deposit!
    Có được một cơ hội giành chiến thắng bằng việc ký quỹ $3000 vào một tài khoản giao dịch. Đáp ứng được điều kiện này, bạn trở thành một người tham gia chiến dịch.
    THAM GIA CUỘC THI
  • Giao dịch khôn ngoan, thành công
    Nạp tiền vào tài khoản của bạn với ít nhất $ 500, đăng ký cuộc thi và có cơ hội giành được các thiết bị di động.
    THAM GIA CUỘC THI
  • 100% tiền thưởng
    Cơ hội duy nhất của bạn để nhận 100% tiền thưởng khi gửi tiền
    NHẬN THƯỞNG
  • 55% Tiền thưởng
    Đăng ký tiền thưởng 55% cho mỗi lần gửi tiền của bạn
    NHẬN THƯỞNG
  • 30% tiền thưởng
    Nhận 30% tiền thưởng mỗi khi bạn nạp tiền vào tài khoản của mình
    NHẬN THƯỞNG

Recommended Stories

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

Dean Leo 06:07 2023-03-24 UTC+2

USDCAD, H4 | Respected descending trendline ?

The charts indicate that the USD/CAD currency pair is currently experiencing a bearish momentum, with price situated below a significant descending trend line. As such, it is likely that

Dean Leo 06:55 2023-03-23 UTC+2

USD/JPY, H4 | Break out trendline?

The USD/JPY chart currently reflects a bullish momentum as it is trading above a significant ascending trend line, indicating potential for further bullish movement. In case the price manages

Dean Leo 06:37 2023-03-22 UTC+2

AUDUSD, H4 | Break out trendline?

Currently, the AUD/USD chart reflects bullish momentum, indicated by the break above a descending resistance line and the crossing above the Ichimoku cloud. The potential for continued bullish movement towards

Dean Leo 07:53 2023-03-21 UTC+2

EURUSD, Day | Potential reversel?

The EUR/USD pair has bullish momentum and may move towards the 1st resistance level. Pullback support at 1.0478, coinciding with the 38.20% Fibonacci retracement level, is currently supporting the price

Dean Leo 09:44 2023-03-20 UTC+2

GBPUSD, H4 | Potential reversel from trendline?

The GBP/USD chart currently exhibits bearish momentum, as the price remains below a significant descending trend line. This indicates that the currency pair may undergo further downward pressure

Dean Leo 08:05 2023-03-17 UTC+2

AUDUSD, H4 | Potential reversel from trendline?

Price is approaching our 1st resistance level at 0.6694 along with a 61.8% Fibonacci retracement. If the price were to break above, it could push up to 2nd resistance

Dean Leo 10:10 2023-03-16 UTC+2

USDJPY, H1 | Time to Buy?

The price has recently reversed from our 1st resistance level at 135.18, which lines up with the 50% Fibonacci retracement. Additionally, it appears that the price has broken through

Dean Leo 19:39 2023-03-15 UTC+2

DAX, D1 | Trend line breakout

Price has broken an ascending trend line suggesting we might see a big bearish move. There's also a strong bearish divergence vs Stochastic lending more confidence to our bearish call

Dean Leo 06:36 2023-03-14 UTC+2

USDCHF, H4 | Potential bearish breakout after trend line break?

Price is testing a major support at 0.9283 which is a 50% Fibonacci retracement and an overlap support. If price were to break this level, we could see it drop

Dean Leo 11:42 2023-03-10 UTC+2
Không thể nói chuyện ngay bây giờ?
Đặt câu hỏi của bạn trong phần trò chuyện.