Permanecer 
Condições de Negociações
Ferramentas
Our previous downside targets which we predicted in yesterday's analysis have been hit. USD/JPY is under pressure and expected to trade with the bearish outlook. The pair broke below the key support at 106.30 (the low of February 28), which becomes the key resistance now. The declining 20-period and 50-period moving averages should push the prices lower. The relative strength index shows downside momentum.
To conclude, as long as 106.30 holds on the upside, look for a further drop with targets at 105.10 and 104.70 in extension.
Alternatively, if the price moves in the opposite direction, a long position is recommended to be above 106.30 with a target of 106.55.
Chart Explanation: The black line shows the pivot point. The current price above the pivot point indicates a bullish position, while the price below the pivot point is a signal for a short position. The red lines show the support levels, and the green line indicates the resistance level. These levels can be used to enter and exit trades.
Strategy: SELL, stop loss at 106.30, take profit at 105.10.
Resistance levels: 106.55, 106.85, and 107.25
Support levels: 105.10, 104.70, and 104.30.
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.
Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of Instant Trading EU Ltd including online trading, online transfers, deposit/withdrawal of funds, etc.
If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.
Why does your IP address show your location as the USA?
Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.
We are sorry for any inconvenience caused by this message.
