For Traders

Analytical Reviews

Trend line

03.05.202111:00 Forex Analysis & Reviews: USD/JPY Further Growth Expected!

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 has developed a new swing higher, uptrend, after jumping and stabilizing above the downtrend line. The outlook is bullish, so the pair could extend its growth and could approach and reach new highs.

The immediate upside target is seen at the 110.00 psychological level. Passing and stabilizing above it could indicate a further growth towards 111.00 psychological level. USD/JPY is expected to increase as long as it stays above the minor uptrend line.

Trading Conclusion!

USD/JPY should continue to increase and resume the current minor uptrend. The 111.00 could be used as the next upside target. The minor uptrend line retest could be used as a new buying opportunity.

The Stop Loss should be placed below the minor uptrend line, maybe to be hidden below 108.78.

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.