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Weekly forecast US Dollar / Japanese Yen technical chart
Symbol USDJPY

Trading suggestion:

  • By appearing primary signs of entering the market, new entry zone and short-term targets would be published.

DateApril 9, 2022 - 20:25
Currentuptrend
Forecastcontinuation of uptrend

Midterm forecast:

  • While the price is above the support 116.000, continuation of uptrend is expected.
  • We make sure when the resistance at 125.093 breaks.
  • If the support at 116.000 is broken, the short-term forecast -continuation of uptrend- will be invalid.

Technical analysis:

  • A trough is formed in daily chart at 121.275 on 03/31/2022, so more gains maximum to Major Resistance (125.093) is expected.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 76.

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