18.02.202214:53 Forex Analysis & Reviews: USD/JPY analysis for February 18, 2022 - Potential completion of ABC downside correction

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.

Technical analysis:

USD./JPY has been trading downside in the background but I see potential completion for the ABC correction.

Trading recommendation:

Due to potential completion of the ABC completion in the background and the rally this morning ,I expect further upside movement.

My advice is to watch for buying opportunities on the intraday dips with the potential upside objectives at 115,80 and 116,25.

Short-term trend is bullish and that is another confirmation for furhter rise....

Support level is set at 114,80

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.