16.10.201921:29 Forex Analysis & Reviews: USDJPY remains in bullish short-term trend

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 bounced off the 38% Fibonacci retracement and cloud support at 106.90 and now is making new highs at 108.73. In Ichimoku cloud terms we expect price to move higher towards 110.50.

USDJPY has bounced off critical Fibonacci and cloud support. Price is now making new higher highs and I expect price to continue its up trend towards 110.80-111. Support is at 107.70. Any pull back towards that area is considered a buying opportunity. Bulls do not want to see price break below 107-106.80.

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.