- Analytics
- News and Tools
- Market News
- USD/JPY Price Analysis: Bulls move in to test bears near 135.00
USD/JPY Price Analysis: Bulls move in to test bears near 135.00
- USD/JPY bulls are in the market eyeing a test of 135.00.
- The weekly and lower time frames offer compelling technical features on the charts.
USD/JPY is testing resistance and staying on the bid in Tokyo at 134.85, up from a low of 134.59 having printed a high of 134.97.
The following illustrates the meanwhile upside bias vs a longer-term downside bias.
USD/JPY technical analysis
The bearish pennant and bearish ascending triangle are compelling themes on the weekly charts.
Zooming in, we can see a W-formation is taking shape and there are prospects of a move higher still before a move into the support area and neckline of the pattern.
USD/JPY H4 charts
The bullish scenario, above, sees the prospects of a break of the micro trendline and a move to test the low 134s before the bulls engage again for the push higher, as per the weekly W-formation´s outlook. The bearish scenario, below, highlights the chances of a breakdown into the broader trendline support.
© 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
