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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.

DateMarch 18, 2023 - 15:08
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 126.409, resumption of uptrend is expected.
  • We make sure when the resistance at 141.696 breaks.
  • If the support at 126.409 is broken, the short-term forecast -resumption of uptrend- will be invalid.

Technical analysis:

  • The RSI support #1 at 47 is broken, so the probability of resumption of uptrend is decreased.
  • A peak is formed in daily chart at 137.920 on 03/08/2023, so more losses to support(s) 131.490, 129.442, 128.084 and minimum to Major Support (126.409) 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 39.

Supports and Resistances:

  1. 145.094
  2. 141.696
  3. 139.380
  4. 137.355
  5. 134.662
  6. 131.490
  7. 129.442
  8. 126.409
  9. 121.271
Click on the level to view price action history.

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