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11.06.202108:59 Forex Analysis & Reviews: Daily Video Analysis: USDJPY facing bullish pressure, potential for further rise!

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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 bullish pressure as it continues to hold above the ascending trendline support, and Stochastics is also showing signs of bullish pressure. We could see price rise above buy entry level, in line with 76.4% Fibonacci retracement, towards take profit level, in line with 76.4% Fibonacci retracement, 78.6% Fibonacci extension and horizontal swing high resistance.

*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
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