- Analytics
- News and Tools
- Market News
- USD/JPY Price Analysis: Bounces off 21-day EMA towards 115.00
USD/JPY Price Analysis: Bounces off 21-day EMA towards 115.00
- USD/JPY stays firmer around intraday top, snaps two-day downtrend to recovery from weekly low.
- Steady RSI, oversold Momentum line back further recovery.
- 10-week-old horizontal area becomes a key hurdle, 100-day EMA adds to the downside filters.
USD/JPY consolidates weekly losses around 114.80 amid the late Asian session on Wednesday.
The yen pair bounces off 21-day EMA as sellers ran out of steam around weekly low, as per the Momentum line.
The rebound takes clues from steady RSI to suggest further advances towards the 115.00 threshold.
However, a horizontal area comprising multiple levels marked since November 24, near 115.50-60, becomes a tough nut to crack for USD/JPY bulls, a break of which will enable them to aim for the yearly high around 116.35.
Alternatively, pullback moves will need to provide a daily closing below the 21-day EMA level of 114.65 to convince sellers.
Even so, the previous resistance line from January 04 and the 100-day EMA, respectively around 114.15 and 113.50, will challenge the USD/JPY bears afterward.
USD/JPY: Daily chart
Trend: Further recovery expected
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
