Technical analysis on USDJPY for April 26th, 2023.
April 26, 2023 2:22 pm
Blue lines- bullish channel
USDJPY is trading around 133.59. Price remains under pressure for the last few trading sessions. Price has pulled back towards the lower channel boundary. This is very important short-term support. A break outside of the channel would be a bearish sign. It will put the short-term bullish trend in danger and will most probably bring more sellers. Support is found at 133.43. A daily close below this level would be an important sign of weakness that should not be ignored. First short-term resistance is at 133.95 and next at 134.75. Bulls need to stay above the lower channel boundary and start a new upward move. They need to show us signs of strength. Otherwise price will fall further.
The material has been provided by InstaForex Company – www.instaforex.com
Blue lines- bullish channel
USDJPY is trading around 133.59. Price remains under pressure for the last few trading sessions. Price has pulled back towards the lower channel boundary. This is very important short-term support. A break outside of the channel would be a bearish sign. It will put the short-term bullish trend in danger and will most probably bring more sellers. Support is found at 133.43. A daily close below this level would be an important sign of weakness that should not be ignored. First short-term resistance is at 133.95 and next at 134.75. Bulls need to stay above the lower channel boundary and start a new upward move. They need to show us signs of strength. Otherwise price will fall further.
The material has been provided by InstaForex Company – www.instaforex.com
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