USD/JPY: 139.99 key obstacle
July 19, 2023 8:23 pmVideo
Latest News
- Analysis of GBP/USD on April 26th. The pound trades on Friday without changes April 26, 2024
- USD/JPY: Simple trading tips for novice traders on April 26th (US session) April 26, 2024
- GBP/USD: Simple trading tips for novice traders on April 26th (US session) April 26, 2024
- EUR/USD: Simple trading tips for novice traders on April 26th (US session) April 26, 2024
- GBP/USD: trading plan for the US session on April 26th (analysis of morning deals). The pound attempted, but it didn’t go April 26, 2024
- EUR/USD: trading plan for the US session on April 26th (analysis of morning deals). The euro continues to rise April 26, 2024
- Trading Signals for GOLD (XAU/USD) for April 26-29, 2024: buy above $2,324 and sell below $2,352 (21 SMA – 6/8 Murray) April 26, 2024
- Technical Analysis – AUDUSD set to complete best week of the year April 26, 2024
- Will Apple finally drop its AI hint? – Stock Markets April 26, 2024
- Bitcoin slips as markets pare back Fed rate cuts – Crypto News April 26, 2024
- EUR/USD. April 26th. Bulls continue to advance after the GDP report April 26, 2024
- Can Chinese PMIs solidify the economy’s recovery prospects? – Preview April 26, 2024
- Weekly Forex Outlook: 26/04/2024 – Hawkish risk as Fed and NFP on tap, Eurozone data eyed too April 26, 2024
- XM’s Lombok Collaboration: Brightening Futures April 26, 2024
- Week Ahead – Hawkish risk as Fed and NFP on tap, Eurozone data eyed too April 26, 2024
- Market Comment – Yen keeps sinking after Bank of Japan decision April 26, 2024
- Fed faces dilemma amid sticky inflation and slowing economy – Preview April 26, 2024
- USD/JPY: trading tips for beginners for European session on April 26 April 26, 2024
- GBP/USD: trading tips for beginners for European session on April 26 April 26, 2024
- EUR/USD: trading tips for beginners for European session on April 26 April 26, 2024
The USD/JPY pair climbed as much as 139.99 today, registering a new high in the short term. Now, it has retreated a little and is trading at 139.53. After its amazing growth, a temporary retreat was natural. The rate could test and retest the near-term support levels before jumping higher.
Fundamentally, the Japanese Trade Balance will be released tomorrow and is expected at -0.66T versus -0.78T in the previous reporting period. On the other hand, the US is to release the Unemployment Claims, Existing Home Sales, CB Leading Index, and Philly Fed Manufacturing Index. Positive US data should lift the greenback.
USD/JPY Further Growth Seems Activated!
The USD/JPY pair jumped above the downtrend line signaling that the sell-off ended and that the buyers could take it higher again. It has jumped above the 38.2% (139.18) indicating a potential further growth.
It has retreated a little after reaching 139.99. It could come back to test and retest the 38.2% retracement level before jumping higher.
USD/JPY Forecast!
A bullish closure above 139.99 is seen as a buying signal.
The material has been provided by InstaForex Company – www.instaforex.com