For Traders

Analytical Reviews

Trend line

29.07.202117:04 Forex Analysis & Reviews: USDJPY remains vulnerable.

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.

As explained in our latest USDJPY post, we expect price to move lower towards 109 and below. Recently price got rejected at the back test of the broken trend line. This was a bearish signal.

Red line -support (broken)

Blue lines - Fibonacci retracements

USDJPY is making lower lows and lower highs. Short-term trend has changed to bearish and I continue to expect price to move lower at least towards the 38% Fibonacci retracement support at 108.20. At 110.60 we have major resistance and as long as price is below this level, we expect price to continue lower.

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.