Technical analysis of USD/JPY for March 05, 2014
March 5, 2014 6:20 amVideo
Latest News
- Nasdaq red flags: Salesforce drops index 1% May 31, 2024
- Technical Analysis of Intraday Price Movement of Ripple Cryptocurrency, Friday May 31 2024. May 31, 2024
- Technical Analysis of Intraday Price Movement of Filecoin Cryptocurrency, Friday May 31 2024. May 31, 2024
- Forecast for EUR/USD on May 31, 2024 May 31, 2024
- Forecast for GBP/USD on May 31, 2024 May 31, 2024
- Forecast for USD/JPY on May 31, 2024 May 31, 2024
- Overview of GBP/USD on May 31. The pound is rising again May 31, 2024
- Technical Analysis – US 30 index on the slide for the second week May 30, 2024
- Technical Analysis – Meta stock consolidates below 50-day SMA May 30, 2024
- Analysis of EUR/USD pair on May 30th. An unexpected stop near the 1.0788 mark May 30, 2024
- Euro suffers when ECB announces the first rate cut of the cycle – Special Report May 30, 2024
- Trading Signals for EUR/USD for May 30-31, 2024: buy above 1.0800 (200 EMA – rebound) May 30, 2024
- USD/JPY: Simple trading tips for novice traders for May 30th (US session) May 30, 2024
- Trading Signals for GOLD (XAU/USD) for May 30-31, 2024: buy above $2,345 (oversold – 200 EMA) May 30, 2024
- GBP/USD: Simple trading tips for novice traders for May 30th (US session) May 30, 2024
- EUR/USD: Simple trading tips for novice traders on May 30th (US session) May 30, 2024
- GBP/USD: trading plan for the US session on May 30th (analysis of morning deals). The pound recovered slightly May 30, 2024
- EUR/USD: trading plan for the US session on May 30th (analysis of morning deals). The euro recovered slightly May 30, 2024
- Forex forecast 05/30/2024: EUR/USD, GBP/USD, SP500 and Bitcoin from Sebastian Seliga May 30, 2024
- Technical Analysis – ETHUSD pulls back from 2-month high May 30, 2024
The pair is in a downtrend from $102.83, it made a
low at $101.20. The price is facing stiff resistance in the Tuesday’s trading session
at $102.46, 40DEMA. The pair had broken its monthly support trend line on Friday , and today it
managed to close above the trend line. It’s a good sign in the short term that
the pair is trading above the trend line and RSI is giving a positive indication
in the daily chart.
Intraday– SELL FOR
TARGETS AT $102 AND $101.6, SL IS AT $102.30.
In the hourly chart, the
pair is facing a stiff resistance at the level of $102.29, Friday’s high. If the
price trades above $102.30, we may see $102.61 and $102.83. RSI favours sell
side, it stood at the overbought levels at 78.
S1 101.96 R1 102.29
S2 101.83 R2 102.61
S3 101.63 R3 102.83
Positional– THE AREA ABOVE $102.46
LOOKS GOOD FOR BULLS
In the daily chart, 21and 40 DEMAs are acting as strong
support. The pair broke the EMA’s support on January 24, 2013. From that
day the pair has been unable to cross the EMAs. Close above $102.46 will move
further towards $102.75 and $103.17. Major up move will be only above the level of $103.17.
Overall trend–
In the weekly chart, we can see a clear negative divergence. The pair is in a sell mode. Before any major up move, the pair will come down
first towards $100.0, it is acting as a strong support zone. A week close below
the $100.0 mark will make some trend change towards $92.0.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: