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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.

DateMay 28, 2022 - 19:54
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 125.093, resumption of uptrend is expected.
  • We make sure when the resistance at 135.000 breaks.
  • If the support at 125.093 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:

  • The RSI support #1 at 62 is broken, so the probability of resumption of uptrend is decreased.
  • A peak is formed in daily chart at 131.345 on 05/09/2022, so more losses to support(s) 125.800 and minimum to Major Support (125.093) is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 46.

Supports and Resistances:

  1. 135.000
  2. 131.244
  3. 127.500
  4. 125.093
  5. 123.500
  6. 121.271
  7. 116.370
Click on the level to view price action history.

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