empty
 
 
20.03.2023 05:32 PM
Trading Signal for USD/JPY for March 20 - 21, 2023: buy above 131.11 (4/8 Murray - descending wedge )

This image is no longer relevant

Early in the American session, the Japanese Yen is trading at 131.11 below the 4/8 Murray and below the 21 SMA (131.79). In the European session, the instrument reached the area of 130.52, its lowest level since February 10th. The pair remains bearish but a strong technical bounce could occur if it consolidates above 132.25.

From a technical point of view, the Japanese Yen has a psychological level around 130.00. Any bounce above this area could give the bulls a chance to buy.

According to the 1-hour chart, we can observe the formation of a descending wedge. In case the Yen breaks above 131.79 and consolidates above 132.25, it could confirm the break of this pattern and the price could reach the 200 EMA located at 133.82.

On the other hand, in case the USD/JPY pair consolidates above 131.25 in the next few hours, it could generate a sign of weakness and could be seen as an opportunity to buy. A daily close above 4/8 Murray in the coming days could enable the instrument to reach the 6/8 Murray zone located at 134.37.

The eagle indicator has touched a support zone that it has been tested since last week. We could grasp the opportunity to buy in the coming hours with targets at 131.79 and 132.81 (5/8 Murray).

Dapatkan keuntungan dari perubahan nilai mata uang kripto dengan InstaForex.
Unduh MetaTrader 4 dan buka perdagangan pertama Anda.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    GABUNG KONTES
  • Chancy Deposit
    Isi akun Anda sebesar $3000 dan dapatkan $5000 lebih banyak!
    Pada November kami mengundi $5000 dalam promo Chancy Deposit!
    Dapatkan kesempatan untuk menang dengan melakukan deposit sebesar $3000 pada akun trading Anda. Setelah memenuhi persyaratan ini, Anda telah menjadi partisipan promo.
    GABUNG KONTES
  • Trade Wise, Win Device
    Top up akun anda dengan dana minimal $500, daftar kontes, dan dapatkan peluang untuk memenangkan perangkat seluler.
    GABUNG KONTES
  • 100% Bonus
    Kesempatan langka untuk mendapatkan bonus 100% pada deposit anda
    DAPATKAN BONUS
  • 55% Bonus
    Ajukan bonus 55% pada setiap deposit anda
    DAPATKAN BONUS
  • 30% Bonus
    Raih bonus 30% setiap kali anda top up
    DAPATKAN BONUS

Artikel yang direkomendasikan

Tidak bisa bicara sekarang?
Tanyakan pertanyaan anda lewat chat.
Widget callback