Technical analysis of USD/JPY for May 02, 2018
May 2, 2018 2:21 pmVideo
Latest News
- Overview of the EUR/USD pair on April 19th. Jerome Powell crushed all euro growth prospects April 19, 2024
- Key events on April 19: fundamental analysis for beginners April 19, 2024
- Trading plan for GBP/USD on April 19. Simple tips for beginners April 19, 2024
- Trading plan for EUR/USD on April 19. Simple tips for beginners April 19, 2024
- Forecast for EUR/USD on April 19, 2024 April 19, 2024
- Forecast for GBP/USD on April 19, 2024 April 19, 2024
- Forecast for USD/JPY on April 19, 2024 April 19, 2024
- Technical Analysis of Intraday Price Movement of Litecoin Cryptocurrency, Friday April 19 2024. April 19, 2024
- Technical Analysis of Intraday Price Movement of Polkadot Cryptocurrency, Friday April 19 2024. April 19, 2024
- Michelle Bowman reiterated Jerome Powell’s opinion April 19, 2024
- The ECB has finally made up its mind April 19, 2024
- The dollar is in control April 19, 2024
- Analysis of the GBP/USD pair on April 18, 2024 April 18, 2024
- Analysis for EUR/USD pair on April 18th. Dull ending to a dull week April 18, 2024
- USD/JPY: Simple trading tips for novice traders on April 18th (US session) April 18, 2024
- GBP/USD: Simple trading tips for novice traders on April 18th (US session) April 18, 2024
- EUR/USD: Simple trading tips for novice traders on April 18th (US session) April 18, 2024
- GBP/USD: trading plan for the US session on April 18th (analysis of morning deals) April 18, 2024
- Trading Signals for EUR/USD for April 18-20, 2024: buy above 1.0641 (21 SMA – 2/8 Murray) April 18, 2024
- Bitcoin slides ahead of halving event – Crypto News April 18, 2024
All our upward targets which we predicted in the previous analysis have been hit. USD/JPY is expected to trade in a higher range. The technical outlook of the pair is bullish as the prices have recorded a series of higher tops and higher bottoms since April 27. The upward momentum is further reinforced by both rising 20-period and 50-peirod moving averages. The relative strength index advocates for further upside. Hence, above 109.50, look for an advance with targets at 110.00 and 110.30 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 109.50, take profit at 110.00.
Resistance levels: 110.00, 110.30, and 110.75
Support levels: 109.25, 109.00, and 108.40.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: