Technicals

Add as a preferred source on Google

FxWirePro: USDJPY Daily Outlook

Chart pattern- Bullish Divergence USDJPY trades weak for 3rd consecutive week and lost more than 1000 pips from high 112.22. The demand for Safe-haven assets like yen, gold after the outbreak of Coronavirus. It hits an i…

1 min read
FxWirePro: USDJPY Daily Outlook
Image from the original EconoTimes article

Read the original article

Chart pattern- Bullish Divergence 

USDJPY trades weak for 3rd consecutive week and lost more than 1000 pips from high 112.22. The demand for Safe-haven assets like yen, gold after the outbreak of Coronavirus. It hits an intraday low of 101.579.

On the flip side, immediate major support is at 101.50 and any indicative break above targets 100/98.78.

The near-term resistance is at 103.05 and any indicative break above will take the pair till 104.07/105.

It is good to buy on dips around 101.50 with SL around 100 for the TP of 105.
 

Related articles

View all
Technicals

Major Pair Currency Score: AUDUSD Bearish

EURUSD - Levels to watch - 1.100 GBPUSD Levels to watch - 1.3180 USDCHF Levels to watch - 0.8400 USDCAD - Levels to watch - 1.4300 AUDUSD - Levels to watch - 0.7000 NZDUSD - Levels to watch - 0.5560