Technical Analysis of Intraday Price Movement of USD/JPY Main Currency Pairs, Wednesday April 17, 2024.
April 17, 2024 4:26 am
Even though the condition of the main currency pair USD/JPY on the 4-hour chart is in a strengthening condition, which is confirmed by its price movement moving above WMA 30 Shift 2, the appearance of deviations between price movements and the Stochastic Oscillator indicator gives a clue that in the near future USD /JPY has the potential to be corrected downwards, as long as it does not return to its initial bias (strengthening) until it breaks above the 155.00 level, then USD/JPY has the potential to weaken down to the 153.94 level and if the momentum and volatility are supportive then the 1552.61 level will be the next target to be aimed at.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
Even though the condition of the main currency pair USD/JPY on the 4-hour chart is in a strengthening condition, which is confirmed by its price movement moving above WMA 30 Shift 2, the appearance of deviations between price movements and the Stochastic Oscillator indicator gives a clue that in the near future USD /JPY has the potential to be corrected downwards, as long as it does not return to its initial bias (strengthening) until it breaks above the 155.00 level, then USD/JPY has the potential to weaken down to the 153.94 level and if the momentum and volatility are supportive then the 1552.61 level will be the next target to be aimed at.
(Disclaimer)
The material has been provided by InstaForex Company – www.instaforex.com
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