USD/JPY Price Analysis: Bulls about to make their move with eyes on 61.8% retracement USDJPY Technical Analysis
, the bears stepped in as forecasted according to the W-formation´s draw on the price. However, the move was accentuated during the Federal Reserve event. It was stated that ´´the W-formation shows the price meeting prior resistance and a retest of the neckline, which would be expected to act as support, could be the final show from the bears as bulls take control.
The price is moving into the lower support and the bulls could be committed near the 130.70s for a retest of the prior support as follows: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.
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/JPY Price Analysis: Bulls attack 50-DMA resistance around mid-132.00sUSD/JPY bulls take a breather around 132.50 during early Wednesday, after posting the biggest daily gains in a month the previous day. In doing so, th
Read more »
USD/JPY Price Analysis: Weekly resistance line prods rebound from five-week low near 131.50USD/JPY Price Analysis: Weekly resistance line prods rebound from five-week low near 131.50 USDJPY Technical Analysis SwingTrading ChartPatterns SupportResistance
Read more »
USD/JPY Technical Analysis: Bears\u0027 Control ContinuesAt the beginning of this week\u0027s trading, the bears continued to control the direction of the USD/JPY currency pair.
Read more »
GBP/USD Price Analysis: Bears step in to test bulls at key suportGBP/USD bulls are in the market but are meeting resistance above equal highs as for the prior analysis, GBP/USD Price Analysis: Bulls move towards bea
Read more »
USD/MXN Price Analysis: Bulls attack 18.85 resistance confluence amid Mexican holidaysUSD/MXN Price Analysis: Bulls attack 18.85 resistance confluence amid Mexican holidays USDMXN Technical Analysis SwingTrading ChartPatterns SupportResistance
Read more »
AUD/USD Price Analysis: Snaps three-day uptrend as 21-EMA prods bulls near 0.6700AUD/USD Price Analysis: Snaps three-day uptrend as 21-EMA prods bulls near 0.6700 AUDUSD Technical Analysis SwingTrading ChartPatterns SupportResistance
Read more »