14.07.202115:11 Forex Analysis & Reviews: Daily Video Analysis: USDJPY facing bullish pressure, potential for further rise!


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 holds above moving average and ascending trendline supports. We could see a bounce at Buy Entry, in line with 23.6% and 50% Fibonacci retracements, as well as ascending trendline support, and a further rise towards Take Profit levels, in line with -27.2%, -61.8% Fibonacci retracement levels 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
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.