08.06.202306:30 Forex Analysis & Reviews: Trading Signal for USD/JPY for June 8-9, 2023: sell below 139.76 (21 SMA - bearish channel)

Tieto informácie poskytujeme retailovým a profesionálnym klientom ako súčasť marketingovej komunikácie. Neobsahujú investičné poradenstvo, investičné odporúčania, ponuku ani výzvu na vykonanie transakcie alebo použitie stratégie na finančných nástrojoch a ani by sa tak nemalo s nimi zaobchádzať. Minulá výkonnosť nie je zárukou ani predikciou budúceho výkonu. Spoločnosť Instant Trading EU Ltd. neručí a nepreberá žiadnu zodpovednosť za správnosť a úplnosť poskytovaných informácií ani za stratu, ktorá by vyplynula z akejkoľvek investície založenej na analýze, predpovedi alebo iných informáciách poskytnutých zamestnancom spoločnosti alebo iným spôsobom. Celé vylúčenie zodpovednosti nájdete tu.

Early in the European session, the Japanese yen is trading around 139.83 above the 21 SMA and below the 6/8 Murray. Yesterday, we could see that the Japanese made a strong technical rebound above 5/8 Murray located at 139.06 and reached the psychological level of 140.

The USD/JPY pair is trading inside a downtrend channel formed since May 23. Yesterday in the American session, the yen pair reached the top of the downtrend channel and failed to break it. Now, we can observe a technical correction. If USD/JPY falls and consolidates below 139.76 (21 SMA), we could expect a corrective movement and the price could reach 139.06 and 137.90 which coincides with the bottom of the downtrend channel.

The Eagle indicator is giving a negative signal. The Japanese yen is expected to trade below the psychological level of 140 and it could reach the 200 EMA located at 137.55 in the next few days.

A decisive break below the low of June 6, located at 139.02, could exert downward pressure on the pair towards the price levels of March 8 at 137.92. Finally, the instrument could reach the low of May 18 at 137.45.

On the other hand, a break of the downtrend channel and a close on daily charts above 140.30 will push the pair towards the high of May 30 at 140.93. A break above this last level could accelerate the USD/JPY pair's rally towards the 7/8 Murray level located at 142.18.

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.