For Traders

Analytical Reviews

Technical analysis

30.03.202319:28 Forex Analysis & Reviews: USD/JPY extends its growth as 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 132.93 As Key Obstacle!

The USD/JPY pair is trading at 132.44 at the time of writing. You knew from my previous analysis that the price could approach and reach new highs if the instrument jumps above 131.73. It was almost to reach the 132.93 former high which represents an upside obstacle.

Technically, after its strong growth, a retreat is natural. Still, the upside scenario remains intact as long as it stays above 131.73.

USD/JPY Trading Conclusion!

USD/JPY could extend its upwards movement after passing and stabilizing above the 132.93 level. This scenario brings new buying opportunities.

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.