empty
 
 
05.01.2024 05:39 AM
USD/JPY H4 | Bearish Reversal

This image is no longer relevant

The USD/JPY chart is currently experiencing significant resistance levels, indicating the potential for a bearish breakout.

Resistance Levels:

The 1st resistance level at 144.92 is characterized as "An Overlap resistance." This level represents a strong barrier to further upward price movement. Additionally, the 2nd resistance level at 146.54 is also identified as "An Overlap resistance," further highlighting its role as a significant resistance zone.

Support Levels:

On the support side, the 1st support level at 142.94 is described as "An Overlap support." This level suggests a potential area where buying interest may emerge and could act as a crucial support zone. Further down, the 2nd support at 141.89 is also characterized as "An Overlap support," reinforcing its significance as a substantial support level.

Dean Leo,
Analytical expert of InstaForex
© 2007-2024
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 $5000 more!
    In November we raffle $5000 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

Can't speak right now?
Ask your question in the chat.
Widget callback