empty
 
 

Forex Analysis & Reviews: Trading Signal for USD/JPY for August 3 - 4, 2022: buy in case of rebound at 132.63 (5/8 Murray - 21 SMA)
time 03.08.2022 06:07 AM
time Relevance up to, 08.08.2022 06:07 AM

This image is no longer relevant

USD/JPY has risen more than 350 pips in the last 48 hours, recovering strongly from the lowest level in almost two months. The pair bottomed at 130.39 at around 4/8 Murray and is now trading with an upward bias above the 21 SMA and above 5/8 Murray.

Since July 14, the Japanese yen strengthened, having fallen almost 900 pips from the high of 139.39 to the low of 130.39. The Japanese yen is currently showing signs of being oversold and any pullback is likely to be seen as a buying opportunity.

The psychological level of 130.00 has become major support for USD/JPY. It is likely that as long as it trades above this level, it could resume its bullish cycle and could reach 135.00 (200 EMA) and even reach the psychological level of 140.00.

Risk appetite added pressure to USD/JPY, setting the stage for the yen's recovery that took more than 2 weeks. The strong technical bounce from earlier this week could signal the end of the downtrend. However, July payroll data will be released on Friday and could change the short-term outlook for the Japanese yen.

A return above the 200 EMA located and 135.08 will mean a resumption of the uptrend and USD/JPY could reach 137.50 (8/8 Murray) again and even reach the 24-year high at 139.38.

On the other hand, any technical bounce above the 21 SMA located at 132.63 will still be a clear signal to buy. The pair could continue its rise to 135.00 and 137.50.

On August 1, the eagle indicator reached the extremely oversold zone of around 5 points which was a clear signal to buy. After reaching a high of 133.89 in the Asian session, it is showing signs of a technical correction. Hence, we can expect the price to rebound off 132.63 to buy again.

Our trading plan for the next few hours is to wait for a technical bounce at around 132.63 and buy the pair with targets at 6/8 Murray around 134.65 and at the 200 EMA around 135.12.

Dimitrios Zappas,
Chuyên gia phân tích của InstaForex
© 2007-2023
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

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.

  • 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 $10000 nhiều hơn!
    Trong Tháng 01 chúng tôi xổ $10000 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

Technical analysis of EUR/USD for January 28, 2023

The bullish bias will be suggested for today, supported by the EMA100 that carries the price from above, taking into consideration that breaking 1.0819 will stop the expected rise

Mourad El Keddani 18:53 2023-01-28 UTC+2

January 27, 2023 : EUR/USD daily technical review and trading opportunities.

The market has remained under buying pressure until a plateau level occurred around the key-zone around 1.0800-1.0750. In the mean time, any downside movement towards 1.0300 should be watched

Mohamed Samy 20:51 2023-01-27 UTC+2

January 27, 2023 : EUR/USD Intraday technical analysis and trading plan.

Price action around the key-level of (1.0550-1.0600) was quite bullish. That's why, further bullish continuation towards 1.0800 was demonstrated. Moreover, more bullish advancement towards the nearest supply zone around 1.1150-1.1200

Mohamed Samy 20:51 2023-01-27 UTC+2

January 27, 2023 : GBP/USD Intraday technical analysis and significant key-levels.

Price action around 1.2340 was being watched for bearish rejection and a short-term SELL Entry. It was running in profits until the current bullish bounce has been expressed. Please take

Mohamed Samy 20:50 2023-01-27 UTC+2

AUD/USD: uptrend seems over

The AUD/USD pair registered strong growth but has now dropped below the uptrend line signaling that the upside movement ended and that the sellers could drag it lower. The uptrend

Ralph Shedler 18:42 2023-01-27 UTC+2

Technical analysis of GBP/USD for January 27, 2023

The bullish trend is currently very strong for the GBP/USD pair. As long as the price remains above the weekly support at 1.2260, you could try to take advantage

Mourad El Keddani 18:05 2023-01-27 UTC+2

Trading Signal for GBP/USD for January 27 - 30, 2023: buy above 1.2370 (21 SMA - bearish channel)

In case the British pound falls and trades below the 21 SMA located at 1.2361, there is a strong probability that it could fall and reach the bottom

Dimitrios Zappas 17:16 2023-01-27 UTC+2

USDJPY vulnerable to another sell off.

USDJPY remains in a bearish trend. Price continues making lower lows and lower highs in the medium- term downward sloping red channel. Price recently got rejected at the upper channel

Alexandros Yfantis 14:50 2023-01-27 UTC+2

EUR/USD: Technical analysis on January 27, 2023. American economy shows impressive growth

Hello, dear traders! Yesterday, EUR/USD reversed and fell to the 200.0% retracement level of 1.0869 in the 1-hour time frame. In case of a rebound from this level, the quote

Samir Klishi 10:36 2023-01-27 UTC+2

Analysis of GBP/USD on January 27. GBP on roller coaster ride

Hi everyone! On the 1H chart, the GBP/USD pair declined to 1.2342 yesterday. Shortly after, it rebounded from it this level to 1.2432. However, the US dollar managed to regain

Samir Klishi 10:29 2023-01-27 UTC+2
Không thể nói chuyện ngay bây giờ?
Đặt câu hỏi của bạn trong phần trò chuyện.