USDJPY 1D

The trend of the market daily is a downtrend.
Price had tested the major channel support level which coincides with the false breakout that happened previously.
Currently, the market is at a cluster of resistance within the channel which was previously supported for the price.
We’re likely to see price reject or turn away from this current level of resistance or break it, retest the major resistance level, and head to the downside.

USDJPY

Technical analysis**:

Trend: -1
Trend power: -3
Overbought/Oversold: absent
Preferable trade direction: sell

Sell near 105,20 with a stop loss above 105,60 and a take profit near 104,30.
Sell near 106,00 with a stop loss above 106,50 and a take profit near 105,30.

Read More : Why Forex Trading Psychology Really Matters

Latency: 0.46 ms
2 Weeks Free Trial
100% Free for 24 Months
Licensed Window Server 2022
Minimum Deposit
Max Leverage
Small Accounts
Platforms
10$
1:2000
Yes ✅ (Cent)
MT4, MT5
0 Pip Spread
No Commission
Minimum Deposit
Max Leverage
Small Accounts
Platforms
50$
1:2000
Yes ✅
MT4, MT5
Allow USA Traders
 

Download a Collection of Indicators, Courses, and EA for FREE