empty
28.04.2021 08:29 AM
USD/JPY Increases As Expected!

USD/JPY has started increasing again after retesting the uptrend line. It is trading traded at the 108.88 level. It may approach new highs if USDX and JP225 jump higher in the short term.

The greenback has taken the lead again after better than expected CB Consumer Confidence. The US economic indicator increased from 109.0 to 121.7. Today, the FOMC Statement and the FOMC Press Conference could bring high volatility and strong movements.

A neutral or hawkish FED could help the dollar to extend its short-term appreciation. Fundamentally, USD was somehow expected to increase after good data in the last weeks.

USD/JPY Resumes Its Uptrend!

This image is no longer relevant

USD/JPY escaped from the down channel pattern and now is traded far above the R1 (108.64). It has found strong support on the 38.2% retracement level and now it could jump above 23.6% level.

The R2 (109.41) and R3 (109.99) are seen as upside targets if USD/JPY resumes its swing higher. The bias is bullish after the rejection from the uptrend line. A temporary decline could help the buyers to go long again.

USD/JPY Forecast!

The breakout above 108.33 static resistance and closing above 108.54 former high represented a buying opportunity. A minor consolidation above the weekly R1 (108.64) or a retest could bring a new bullish signal.

The upper median line (uml) of the major descending pitchfork is seen as a major upside target.

Ralph Shedler,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $10000 more!
    In January we raffle $10000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

USD/JPY: Simple Trading Tips for Beginner Traders on December 31. Analysis of Yesterday's Forex Trades

Analysis of Trades and Trading Tips for the Japanese Yen The test of the 157.52 price level occurred when the MACD indicator had moved significantly downward from the zero mark

Jakub Novak 11:34 2024-12-31 UTC+2

GBP/USD: Simple Trading Tips for Beginner Traders on December 31. Analysis of Yesterday's Forex Trades

Analysis of Trades and Trading Tips for the British Pound The test of the 1.2582 price level occurred when the MACD indicator had moved significantly downward from the zero mark

Jakub Novak 11:32 2024-12-31 UTC+2

EUR/USD: Simple Trading Tips for Beginner Traders on December 31. Analysis of Yesterday's Forex Trades

Analysis of Trades and Trading Tips for the Euro The test of the 1.0433 price level occurred at a time when the MACD indicator was just starting to move downward

Jakub Novak 11:30 2024-12-31 UTC+2

USD/JPY: Simple Trading Tips for Beginner Traders on December 30. Review of Forex Trades

The first test of the 157.82 price level occurred when the MACD indicator had already moved significantly above the zero mark, which limited the pair's upward potential. For this reason

Jakub Novak 08:02 2024-12-30 UTC+2

GBP/USD: Simple Trading Tips for Beginner Traders on December 30. Review of Forex Trades

The test of the 1.2570 price level coincided with the MACD indicator moving significantly above the zero mark, which limited the pair's upward potential. For this reason

Jakub Novak 08:02 2024-12-30 UTC+2

EUR/USD: Simple Trading Tips for Beginner Traders on December 30. Review of Forex Trades

The test of the 1.0426 level occurred when the MACD indicator had just begun to move downward from the zero line, confirming the validity of the entry point. However

Jakub Novak 08:02 2024-12-30 UTC+2

Intraday strategies for beginners on December 30

Euro and pound buyers continue to stay active, suggesting a slight recovery in risk assets might be seen by the end of the year. However, amid the empty economic calendar

Miroslaw Bawulski 07:22 2024-12-30 UTC+2

USD/JPY: Simple Trading Tips for Beginner Traders on December 27th (U.S. Session)

The first test of the 157.90 level coincided with the MACD indicator moving significantly above the zero mark, limiting the pair's upward potential. For this reason

Jakub Novak 14:09 2024-12-27 UTC+2

GBP/USD: Simple Trading Tips for Beginner Traders on December 27th (U.S. Session)

The test of the 1.2514 level coincided with the moment when the MACD indicator moved significantly below the zero mark, limiting the pair's downward potential. A similar scenario occurred

Jakub Novak 14:06 2024-12-27 UTC+2

EUR/USD: Simple Trading Tips for Beginner Traders on December 27th (U.S. Session)

Analysis of Trades and Tips for Trading the Euro Currency Pair The test of the 1.0415 level in the first half of the day coincided with the moment when

Jakub Novak 14:02 2024-12-27 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.