USD/JPY Price Analysis: Bears are lurking within a strong bullish trend – by fx_ross USDJPY Technical Analysis
has corrected from the lower quarter of the 130 area in a determined two-day rally to a 50% mean reversion of the prior bearish impulse. From here, should the bulls commit, the price could be attracted to a higher volume area on the chart where there is a price imbalance aligning with the 61.8% and 78.6%However, USDJPY's four-hour chart has left behind a W-formation following the recent bullish correction. This is a reversion pattern that would be expected to see a pullback in due course.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
USD/CAD Price Analysis: Bulls eye 1.2880 but bears are lurkingUSD/CAD finds itself at a crossroads on the daily and hourly chart with a meanwhile bias to the upside on the shorter-term time frame but poised for a
Read more »
EUR/USD Price Analysis: Bears lurking at critical daily resistanceEUR/USD remains in familiar ranges, bounded by resistance and support on the daily chart, currently testing the upper boundary of the range. The follo
Read more »
USD/JPY Technical Analysis: Appropriate Levels of PurchaseA trading week dominated by bears towards the US dollar pairs, and the price of the US dollar against the Japanese yen (USD/JPY) currency pair moved
Read more »
US Dollar Price Action: USD/JPY, EUR/USD, GBP/USDThe US Dollar continues to falter as yields edge lower, while an extension of the current short-covering in the Japanese Yen also weighs on the greenback. Get your market update from JMcQueenFX here:
Read more »
USD/JPY Price Analysis: Plunges to near 100-EMA for the first time in 11-monthsUSD/JPY Price Analysis: Plunges to near 100-EMA for the first time in 11-months – by Sagar_Dua24 USDJPY Technical Analysis ChartPatterns SupportResistance Momentum
Read more »
USD/JPY: out of the woods? – RabobankAnalysts at Rabobank offered a brief preview of the USD/JPY pair and expect spot prices to oscillate in a broader trading range between the 130-135 ps
Read more »