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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, 2023 - 17:53
Currentuptrend
Forecastcontinuation of uptrend

Midterm forecast:

  • While the price is above the support 137.355, continuation of uptrend is expected.
  • We make sure when the resistance at 142.200 breaks.
  • If the support at 137.355 is broken, the short-term forecast -continuation of uptrend- will be invalid.

Technical analysis:

  • While the RSI uptrend #1 is not broken, bullish wave in price would continue.
  • A trough is formed in daily chart at 133.735 on 05/11/2023, so more gains maximum to Major Resistance (142.200) 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 73.

Supports and Resistances:

  1. 145.094
  2. 142.200
  3. 139.380
  4. 137.355
  5. 134.662
  6. 131.490
  7. 129.508
  8. 126.409
  9. 121.271
Click on the level to view price action history.

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