USD/JPY: technical analysis

USD/JPY, D1

On the daily chart, the pair is moving within the sideways channel, formed by the middle line and the lower border of Bollinger Bands. MACD histogram is around the zero line, its volumes are minimal, the signal line is moving sideways. Stochastic is in the neutral zone at the border with the oversold area, keeping a weak buy signal.

USD/JPY, H4

On the 4-hour chart, the instrument is moving downwards towards the middle line of Bollinger Bands. MACD histogram is in the negative zone, keeping a sell signal. Stochastic is ready to cross the border of the overbought area and give a sell signal.

Key levels

Resistance levels: 112.60, 112.88, 113.00, 113.30, 113.50.

Support levels: 112.30, 112.00, 111.75, 111.50.

Trading tips

Short positions can be opened at the current level with the target at 112.00 and stop loss 112.90.

Long positions can be opened at the level of 113.00 with the target at 113.50. Stop loss is 112.70.

Implementation period: 1–3 days.

US Dollar vs Japanese Yen

Buy Sell Spread
112.716 112.692 24

Scenario

Timeframe Day’s Range
Recommendations SELL
Entry Point 112.59
Take Profit 112.00
Stop Loss 112.90
Support levels 111.50, 111.75, 112.00, 112.30, 112.60, 112.88, 113.00, 113.30, 113.50

Alternative scenario

Recommendations BUY STOP
Entry Point 113.00
Take Profit 113.50
Stop Loss 112.70
Support levels 111.50, 111.75, 112.00, 112.30, 112.60, 112.88, 113.00, 113.30, 113.50

USD/JPY: technical analysis

The material published on this page is produced by the Claws&Horns Company and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC; furthermore it has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on dealing ahead of the dissemination of investment research.

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