- Analytics
- News and Tools
- Market News
- USD/JPY Price Analysis: Bulls seeking a discount
USD/JPY Price Analysis: Bulls seeking a discount
- USD/JPY bears are moving in but bulls are on standby.
- Bulls need to get above hourly resistance structure.
USD/JPY has been offered as the Yen on Friday posted modest gains on signs of strength in Japan’s economy boosted by Japan’s Mar national inflation data that rose more than expected and by the most in 41 years, and a gauge of Japan’s manufacturing activity rose to a 6-month high. Technically, however, the bias remains bullish while above 132.80 and certainly while on the front side of the broader trendline.
USD/JPY weekly chart
The weekly chart is bullish as the bull leg remains intact.
USD/JPY daily charts
On the daily chart, we can see the price resisted by 135.11.
We also have an M-formation in the making with the price testing the 133.40s.
USD/JPY H1 charts
We have the price heading toward trendline support. Bulls will need to get above 133.90.
On the other hand, the 132.70s are in focus.
© 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
