- Analytics
- News and Tools
- Market News
- USD/JPY Price Analysis: Bears eye the weekly wick target
USD/JPY Price Analysis: Bears eye the weekly wick target
- USD/JPY bears eye a break of 4-hour support to encourage more offers.
- Bears eye the weekly wick and a firmer correction beyond.
USD/JPY is under pressure as the bullish rally starts to decelerate. The bears are in the market and eye a correction that targets the trendline supports as the following will illustrate.
USD/JPY weekly chart
The weekly charts show that the price was capped last week and has since deteriorated. The wick on the last week´s candle could be filled this week as follows:
USD/JPY daily chart
This leaves a bearish bias for the days ahead and the daily chart sees the price sandwiched between the support and the resistance line, currently.
USD/JPY H4 chart
The Bears are flexing but need to do more. On the 4-hour chart, we can see prospects of a correction of the midday London spike. A move below support to target, say, the 61.8% Fibonacci could be encouraging and motivating the bears to commit below 139.70.
© 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
