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Weekly forecast US Dollar / Japanese Yen technical chart
Symbol USDJPY

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Sell Zone (144.980 to 147.000). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set sell orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (144.980)
  • Ending of entry zone (147.000)

DateSeptember 24, 2022 - 15:00
Currentrange bound
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 147.000, beginning of downtrend is expected.
  • We make sure when the support at 139.340 breaks.
  • If the resistance at 147.000 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • A peak is formed in daily chart at 145.895 on 09/22/2022, so more losses to support(s) 141.526 and minimum to Major Support (139.340) 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 60.

Take Profits:

  1. 141.526
  2. 139.340
  3. 136.666
  4. 134.672
  5. 133.197
  6. 131.500
  7. 129.442
  8. 126.409
  9. 121.271
Click on the level to view price action history.

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