USDJPY TECHNICAL ANALYSIS

Here is an USDJPY Technical Analysis on the Daily time frame. It is a major currency pair and one of the 21 currency pairs that we cover in our Forex Signals App that is available on both Android and iTunes. You can also view the Forex Signals App video demo.

USDJPY on the Daily Time Frame

Price is currently trading above the 15 and 30 EMA. Price is at the top range of the channel and is most likely going to go down.

Price just hit the slaunted resistance level.

MACD is in green and above the zero line showing that price will be dropping soon.

Zero line is also yellow, thus strong momentum.

Additional points on USDJPY

15 and 30 EMA may act as a potential dynamic resistance level in the future.

Conclusion

Price just came in contact with the slanted resistance level. Hence if the resistance level manages to hold, a reversal may occur.

Thus, price is expected to drop down until the 15 and 30 EMA.

 

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Have a great trading day ahead!

Ilyas Ismail

Currency Strategist

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