FXTM information and reviews
IronFX information and reviews
Libertex information and reviews
FxPro information and reviews
FIBO Group information and reviews
FIBO Group
FXCM information and reviews

USD/JPY to confirm a top for a move to 107.82/77

19 April 2021

USD/JPY starts the week under serious downside pressure, with the market breaking below key support at 108.33, the key lows from March and “neckline'' support. A close below here, which looks very likely, would see a top complete to mark an important turn lower, as reported by the Credit Suisse analyst team.

A close below 108.33 would complete a top

A close below 108.33 would see a top complete to mark a more important turn lower. We would then see support next at the 38.2% retracement of the Q1 rally and 55-day average at 107.82/77, which we would look to hold at first. This though would be seen as a temporary hold ahead of a move to the uptrend from January at 107.49 next. We would note though the ‘measured top objective’ would be seen a lot lower at 106.05.

Resistance moves to 108.84 initially, then 108.97, with a break above 109.10 needed to ease the immediate downside bias for 109.57, then 109.76/78. Above 109.95/97 though remains needed to see a fresh low established.



USDJPY creates bearish correction in near term

USDJPY has reversed back down again after finding resistance at the 109.70 barrier achieved on April 30. Momentum indicators are pointing to a neutral...

12 May 2021

USDJPY Daily: Bulls are not giving up

The price of USDJPY on the D1 time frame, was in a short down trend until 23 April when a lower bottom was recorded at 107.477. The bulls refused...

11 May 2021

USD/JPY to test the 110.00 level once above the 109.70 weekly high

USD/JPY is holding ground ahead of US employment figures. The pair is technically neutral - needs to break above 109.70 to gain bullish strength, according to...

7 May 2021

USDJPY maintains bullish sentiment within channel

USDJPY survived a drop below the bullish channel and avoided a close within the Ichimoku cloud a few weeks ago, drifting higher to re-challenge the 109.70 resistance area...

5 May 2021

USDJPY regains footing and tussles 109.00 handle

USDJPY is struggling to overcome the 109.00 hurdle, where the mid-Bollinger band also resides, after recovering some lost ground from a deep price correction...

28 Apr 2021

Weaker USD & JPY Today

US Equities slip (TSLA, Nvidia and Peloton) all hit by news (-0.5%) as Yields & USD move from lows. EUR, GBP & AUD bid, JPY pressured...

20 Apr 2021

Editors' Picks

© 2006-2021 Forex-Ratings.com

The usage of this website constitutes acceptance of the following legal information.
Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website (reviews, brokers' news, comments, analysis, quotes, forecasts or other information materials provided by Forex Ratings, as well as information provided by the partners), including graphical information about the forex companies, brokers and dealing desks, is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Forex Ratings shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about the forex companies. The entire responsibility for the contents rests with the commentators. Reprint of the materials is available only with the permission of the editorial staff.
We use cookies to improve your experience and to make your stay with us more comfortable. By using Forex-Ratings.com website you agree to the cookies policy.