For Traders

Analytical Reviews

Technical analysis

11.04.201805:37 Forex Analysis & Reviews: Daily analysis of USD/JPY for April 11, 2018

Long-term review

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.

USD/JPY

The market has so far rejected any pull of gravity. A rise in volatility is in the offing and it will most likely be in favor of bulls (given what price is currently doing). The EMA 11 is above the EMA 56, and the RSI period 14 is above the level 50. The price is expected to go further upwards reaching other supply levels at 107.50 and 108.00.

There is currently a Bullish Confirmation Pattern in the 4-hour chart, and thus, further northwards journey is anticipated. There are demand zones at 106.50, 106.00 and 105.50, which would impede bearish attempts.

Back to the list

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.