USD/JPY to hit buying zone
May 4, 2023 3:24 pmVideo
Latest News
- GBP/USD: Simple trading tips for novice traders on April 22nd (US session) April 22, 2024
- EUR/USD: Simple trading tips for novice traders on April 22nd (US session) April 22, 2024
- GBP/USD: trading plan for the US session on April 22nd (analysis of morning deals). The pound continues to fall April 22, 2024
- EUR/USD: trading plan for the US session on April 22nd (analysis of morning deals). The euro will continue trading within April 22, 2024
- EUR/USD. April 22nd. Christine Lagarde’s speech will set the tone for the week April 22, 2024
- Technical Analysis – EURGBP brings bullish scenario back to the table April 22, 2024
- GBP/USD. April 22nd. The bulls continue to retreat April 22, 2024
- Can Australian CPI data lift the struggling aussie? – Preview April 22, 2024
- Meta reports Q1 earnings after new AI model – Stock markets April 22, 2024
- Weekly forecast based on simplified wave analysis for GBP/USD, AUD/USD, USD/CHF, EUR/JPY, AUD/JPY, and US dollar index on April 22, 2024
- Technical Analysis – GBPUSD tumbles to 5-month low April 22, 2024
- Weekly forecast based on simplified wave analysis for EUR/USD, USD/JPY, GBP/JPY, USD/CAD, NZD/USD, and Gold on April 22nd April 22, 2024
- Video market update for April 22, 2024 April 22, 2024
- Weekly Technical Outlook: 22/04/2024 – Dollar index, USDJPY, EURUSD April 22, 2024
- Market Comment – Risk appetite returns as geopolitical fears calm April 22, 2024
- Weekly Technical Outlook – Dollar index, USDJPY, EURUSD April 22, 2024
- Forex forecast 04/22/2024: EUR/USD, GBP/USD, USD/JPY and Bitcoin from Sebastian Seliga April 22, 2024
- USD/JPY: trading tips for beginners for European session on April 22 April 22, 2024
- Technical Analysis – EURUSD consolidates after decline pauses April 22, 2024
- GBP/USD: trading tips for beginners for European session on April 22 April 22, 2024
USD/JPY Massive Drop!
The USD/JPY pair crashed in the short term and now is trading at 134.38 at the time of writing. It has turned to the downside after failing to reach the 138.00 psychological level. Technically, after its strong growth, a downside movement was natural. The downside movement could be only temporary.
The uptrend line represents a downside obstacle, so as long as it stays above it, the currency pair could develop a new upwards movement.
USD/JPY Trading Conclusion!
Testing and retesting the uptrend line and stabilizing above it may announce a new upwards movement. This could represent a new buying opportunity. Only dropping and staying below the uptrend line invalidates the upside scenario.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: