Facebook
 
 

22.02.202111:53 Forex Analysis & Reviews: Daily Video Analysis: USDJPY facing bearish pressure, potential for further drop!

loader

Today we take a look at USDJPY. Combining advanced technical analysis methods such as Fibonacci confluence, correlation, market structure, oscillators and demand/supply zones, we identify high probability trading setups. Price is facing bearish pressure as it continues to hold below the descending trendline and moving average resistances. We could potentially see a revervsal at our sell entry level, in line with our 50% Fibonacci retracement, and a further push down towards our partial take profit level, in line with our horizontal swing low support, and our final take profit level, in line with our 61.8% Fibonacci retracement level.

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

Dean Leo,
Analytical expert
InstaForex Group © 2007-2021
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.

Show more
Can't speak right now?
Ask your question in the chat.