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

31.05.202309:58 Forex Analysis & Reviews: Analysis of USD/JPY for May 31, 2023 - Rerversal down day and potential for downside movement

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.

Technical analysis:

Exchange Rates 31.05.2023 analysis

USD/JPY has been trading downside yesterday and I found the reversal down day at the key resistance at the price of 141.00.

Due to the extended run condition and reversal day from yesterday, I see potential for the downside movement towards downside reference.

Downside objective is set at the price of 138.00

MACD oscillator is showing decreasing in the upside momentum, which is good sign for the further downside movement.

Resistance is set at the price of 141.00

Petar Jacimovic
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