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13.04.201816:30 Forex Analysis & Reviews: Technical analysis of USD/JPY for April 13, 2018

Long-term review
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 13.04.2018 analysis

All our upside targets which we predicted in yesterday's analysis have been hit. USD/JPY is expected to trade with a bullish outlook. Though the pair posted a pullback and fell below its 20-period moving average, it is still staying above its rising 50-period moving average. The relative strength index stands firmly above its neutrality level at 50. To conclude, as long as 107.25 is not broken, look for a further advance with targets at 108 and 108.25 in extension.

Chart Explanation: The black line shows the pivot point. The present price above the pivot point indicates a bullish position, and the price below the pivot point indicates a short position. The red lines show the support levels, and the green line indicates the resistance levels. These levels can be used to enter and exit trades.

Strategy: BUY, stop loss at 107.25, take profit at 108.00

Resistance levels: 108.00, 108.25, and 108.75.

Support levels: 107.05, 106.80, and 106.30.

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