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07.06.202109:53 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, where we could see a bounce at buy entry, in line with 61.8% Fibonacci retracement and 127.2% Fibonacci extension, and a further rise up to take profit levels, in line with horizontal swing high resistances and 100% Fibonacci extension.

*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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