For Traders

Analytical Reviews

Trading plan

15.04.202109:46 Forex Analysis & Reviews: USD/JPY Uptrend Is Intact!

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 into a corrective phase, temporary downside movement, after failing to reach 111.00 psychological level and after the amazing growth. The current decline could be only a short-term one.

As you can see, the pair is still located far above the uptrend line, so the outlook is bullish, despite the current decline. USD/JPY goes down below a downtrend line, so it could decline further as long as it stays below it.

USD/JPY will start increasing again after jumping above the downtrend line. A larger decline could be validated only by a drop below the red uptrend line.

Trading Conclusion!

We'll have a new buying opportunity when USD/JPY jumps and stabilizes above the downtrend line. The first upside target will be at 110.90 former high.

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.