Technical analysis of USD/JPY 10/15/2021

USD/JPY is moving in an uptrend on the weekly timeframe. Now quotes are in the area of ​​114.10 and are approaching the resistance area of ​​114.40 (highs of 2017 – 2018). The technical picture suggests a downward correction from the area of ​​114.40 to the level of 112.00, after what the resumption of the development of the upward movement above 117.00 (2016 high).

Convergence on the RSI indicator favors the growth of the pair.

Cancellation of the growth development option of the pair after the correction will be a decrease in quotes below the level of 109.00, what will indicate a breakdown of the lower line of the ascending channel and (MA 200).

USDJPY_STPWeekly (1) (1)

Created by Joshua Hayn

VN:F [1.9.22_1171]
Rating: 5.0/5 (1 vote cast)
5.0 out of 5 based on 1 rating

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>