10.08.201618:25 Forex Analysis & Reviews: Daily analysis of USD/JPY for August 10, 2016

Long-term review

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.

Overview

The USDJPY pair bounced bearishly after touching 102.64 levels yesterday and approached from the critical support 100.70 again as the EMA50 places the price under negative pressure. Besides, stochastic approaches from a negative overlapping signal on the daily time frame supporting the strength of the resistance at 102.64. Therefore, these factors allow us to suggest the return of the bearish trend domination over intraday and short-term trading. A break of 100.70 levels will confirm bearish wave extension to the 94.76 areas as the next main station. The bearish trend will remain valid and active unless breaching and holding above 102.64 levels. The expected trading range for today is between the 100.00 support and the 102.00 resistance.

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.