empty
 
 
You are about to leave
www.instaforex.eu >
a website operated by
INSTANT TRADING EU LTD
Open Account

16.05.202406:46 Forex Analysis & Reviews: Technical Analysis of Daily Price Movement of USD/JPY Main Currency Pairs, Thursday May 16 2024.

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Exchange Rates 16.05.2024 analysis

From what can be seen on the daily chart, the main currency pair USD/JPY appears to have a Bearish 123 pattern appearing, even though currently the EMA 20 is still above the EMA 50, this indicates that in the next few days USD/JPY has the potential to be corrected and weaken downwards to test the level of 151.85 if This level has been successfully broken downwards, then the next level that will be aimed at is 149.73 as the main target and if the momentum and volatility are supportive then the level of 146.47 will be the next target that this main currency pair will try to reach, but you need to pay attention and be alert if there is continued strengthening in Especially if USD/JPY manages to break above the 158.30 level, all the weakening correction scenarios that have been described previously will become invalid and automatically cancel itself.

(Disclaimer)

Arief Makmur
Analytical expert of InstaForex
© 2007-2024

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.




You are now leaving www.instaforex.eu, a website operated by INSTANT TRADING EU LTD
Can't speak right now?
Ask your question in the chat.

Turn "Do Not Track" off