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Weekly forecast US Dollar / Japanese Yen technical chart
Symbol USDJPY

Trading suggestion:

Price is above the Trend Hunter Sell Zone (145.094 to 145.094).

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

  • Beginning of entry zone (145.094)
  • Ending of entry zone (145.094)

DateOctober 22, 2022 - 17:54
Currentuptrend
Forecastbeginning of downtrend

Midterm forecast:

  • While the price is below the resistance 152.000, beginning of downtrend is expected.
  • We make sure when the support at 145.094 breaks.
  • If the resistance at 152.000 is broken, the short-term forecast -beginning of downtrend- will be invalid.

Technical analysis:

  • While the RSI support #1 at 55 is not broken, the probability of price decrease would be too low.
  • A peak is formed in daily chart at 151.940 on 10/21/2022, so more losses minimum to Major Support (145.094) 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. 137.355
  4. 134.672
  5. 131.500
  6. 129.442
  7. 126.409
  8. 121.271
Click on the level to view price action history.

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