For Traders

Analytical Reviews

Technical analysis

30.09.202214:03 Forex Analysis & Reviews: Bullish flag forming in USDJPY.

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.

Blue lines- bullish flag

The last couple of trading sessions USDJPY has been mostly moving sideways inside a tight trading range. Price has paused its sharp rise from 140 to 144.80 and has most probably formed a bullish flag pattern. Breaking above the flag pattern and the recent trading range coincides with the break of the horizontal resistance and recent yearly highs. This increases the importance of the resistance at 145-145.30. Short-term support is at 143.90. Failure to hold above this level cancels the bullish flag scenario.

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.