USD/JPY TECHNICAL ANALYSIS: WEEKLY CHART
In the weekly chart, USD/JPY is trading in up channel.
USD/JPY is currently trading above all SMA.
RSI is in buying zone, which shows bullishness. Stochastic is suggesting up trend.
Its immediate support is at 137.12 & the resistance is at 138.447
The USD/JPY pair is currently in an uptrend and trading within an upward channel. The USD/JPY has broken over its previous week’s high, and as the Dow is currently active, there is potential for additional gains.
USD/JPY ANALYSIS: DAILY CHART
In the daily chart, USD/JPY is trading in up channel.
USD/JPY is currently trading above all SMA.
RSI is in buying zone, which shows bullishness. Stochastic is suggesting up trend.
Its immediate support is at 137.746 & the resistance is at 138.412
After plunging, the USD/JPY began to rise, form higher high structures, and move in an upward trend. The USD/JPY has broken through a crucial resistance level, opening the possibility of more movement.
TRADE SUGGESTION: – BUY AT 138.412, TAKE PROFIT AT 139.021, SL AT, 137.940
