empty
 
 
You are about to leave
www.instaforex.eu >
a website operated by
INSTANT TRADING EU LTD
Open Account

21.02.202317:50 Forex Analysis & Reviews: USD/JPY: upside continuation

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.

Exchange Rates 21.02.2023 analysis

USD/JPY 135.07 Obstacle!

The USD/JPY pair extended its growth and now is trading at 135.06 at the time of writing. The uptrend line represents a downside obstacle. As long as it stays above it, the rate should resume its growth.

Failing to come back to test and retest the uptrend line signaled strong upside pressure. The former high of 135.07 represents an upside obstacle. The 134.71 historical level represented an upside obstacle as well but the rate climbed above it signaling strong buyers and a potential continuation.

USD/JPY Trading Conclusion!

Passing and stabilizing above 135.07 activates further growth and is seen as a new buying opportunity. An upside continuation could be invalidated only if the rate drops and stabilizes below the uptrend line.

Ralph Shedler
Analytical expert of InstaForex
© 2007-2024

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.




You are now leaving www.instaforex.eu, a website operated by INSTANT TRADING EU LTD
Can't speak right now?
Ask your question in the chat.

Turn "Do Not Track" off