11.02.202119:23 Forex Analysis & Reviews: Short-term analysis on USDJPY

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

USDJPY has stopped the pull back from 105.50 just above the 50% Fibonacci retracement level. As we mentioned in previous posts, we prefer to be bullish between 104.65-104.30 and we are expecting the up trend to resume.

Blue line - support

USDJPY continues to trade above the blue upward sloping support trend line. Trend remains bullish as long as price is above 103.30. However if trend is about to change to bearish we will get warnings. A warning of an imminent trend change would for price to break the blue trend line support and the 61.8% Fibonacci retracement. Until then we prefer to be bullish.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.