13.05.202213:37 Forex Analysis & Reviews: Trading plan for USDJPY on May 12, 2022

Tieto informácie poskytujeme retailovým a profesionálnym klientom ako súčasť marketingovej komunikácie. Neobsahujú investičné poradenstvo, investičné odporúčania, ponuku ani výzvu na vykonanie transakcie alebo použitie stratégie na finančných nástrojoch a ani by sa tak nemalo s nimi zaobchádzať. Minulá výkonnosť nie je zárukou ani predikciou budúceho výkonu. Spoločnosť Instant Trading EU Ltd. neručí a nepreberá žiadnu zodpovednosť za správnosť a úplnosť poskytovaných informácií ani za stratu, ktorá by vyplynula z akejkoľvek investície založenej na analýze, predpovedi alebo iných informáciách poskytnutých zamestnancom spoločnosti alebo iným spôsobom. Celé vylúčenie zodpovednosti nájdete tu.

Technical outlook:

USDJPY might have carved a formidable top around 131.34 this week as prices are slipping to initial support seen at 128.50. The currency pair has broken below its immediate trend line support and also taken out the initial price at 128.50 carving a clear downward cycle. Prices have pulled back to 129.00 as expected and could reach 129.50-60 soon.

USDJPY has carved a meaningful lower degree downswing between the 130.80 and 127.51 levels in the past two trading sessions. Ideally, the pair is retracing the above drop. The potential remains for a test of 129.50 before resuming lower again. The currency pair is facing an immediate price resistance at 130.80 and pullbacks should remain capped lower.

Also, note that the Fibonacci 0.618 retracement of the recent drop is passing through 129.57 levels. The high probability remains for a turn lower if prices manage to reach there as bears remain poised to be back in control thereafter. The downside target potential in the near term is towards 125.60 and 122.40 levels respectively.

Trading plan:

Potential drop through 122.50 against 132.00

Good luck!

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.