For Traders

Analytical Reviews

Trend line

25.02.202115:47 Forex Analysis & Reviews: USD/JPY Upside Signal!

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 is traded within an uptrend on the H4 chart. It has decreased a little from around 106.00 coming lower towards the red uptrend line failing to reach it. Now it has increased significantly and is traded at 106.14 level above 106.00 which is considered a resistance area.

Jumping above this area and reaching fresh new highs represent a buying signal, opportunity. USD/JPY could continue to increase as long as it's traded above the uptrend line. You know from my previous analysis that the pair should develop an important upwards movement, uptrend, after breaking above the downtrend line.

Trading Conclusion!

We may have a buying opportunity if USD/JPY passes above the 106.20 level. The next upside target is seen at the 107.00 psychological level.

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.