For Traders

Analytical Reviews

Technical analysis

21.05.201817:55 Forex Analysis & Reviews: Daily analysis of USD/JPY for May 21, 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.

Overview

The USDJPY pair provided slight negative trading on last Friday but it begins today with a bullish gap that puts the price near 111.00 barrier, noticing that stochastic gets rid of its negativity clearly and gain the positive momentum on the four hours' time frame, forming positive motive that we are waiting to assist to push the price to resume the bullish trend. Therefore, our bullish overview will remain valid conditioned by the price stability above 110.04, reminding you that our next main target is located at 111.32. The expected trading range for today is between 110.00 support and 111.60 resistance.

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.