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Taking the lower boundary of the ascending channel is unlikely but the instrument may unsuccessfully test the level of 110.50 once again and go to the growth stage. In the medium term, the pair can be expected at the local highs of 112.40, 113.25. The instrument can transfer into a more sloping ascending channel, but it should continue growing. Indicators on the D1 chart and above confirm the forecast: MACD shows the preservation of the high volume of short positions, and Bollinger Bands are dir…
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USDJPY UP TREND NEXT MONTH
The growth of the pair will resume to the levels of 111.00, 111.40, and further – to the upper border of the range (112.40). Nevertheless, technical indicators indicate a high probability of a lateral channel: the volumes of long positions of MACD have significantly decreased, and the signal line tends to zero; The Bollinger bands almost in a horizontal position
USDJPY UP TREND NEXT MONTH
On the 4-hour chart, the pair is growing along the upper border of Bollinger Bands. MACD histogram is in the positive zone, keeping a signal to open long positions.Resistance levels: 109.50, 110.00, 110.50, 111.00.Support levels: 109.00, 108.70, 108.50, 108.00,
USDJPY UP TREND
In the middle term, the upward trend will maintain, the pair will move within the current upward channel with the targets at 107.75, 108.15, 108.45. An insignificant correction is possible at the current level with the target at 106.80, where the upward wave will form.Technical indicators confirm the growth, MACD long positions volume is growing, Bollinger Bands are directed upwards.
USDJPY DOWN TREND NEXT MONTH
Opening long positions is possible above the support level of 3/8 Murray or 107.42 with protective orders at 107.00 and take-profit at the level of 107.81.Resistance levels: 107.42, 107.81.
Support levels: 106.00, 105.25
Support levels: 106.00, 105.25
USDJPY UP TREND NEXT MONTH
On the 4-hour chart, the instrument is moving towards the lower border of Bollinger Bands. The nearest support level is 111.00. The indicator is pointed downwards, the price range is widening, which reflect the development of the downward movement. MACD histogram is in the negative zone, its volumes significantly decreased, keeping strong sell signal. Stochastic has entered the oversold area.Resistance levels: 108.40, 109.50, .Support levels: 108.20, 107.75,
USDJPY UP TREND NEXT MONTH
Bank of Japan on the interest rate will be announced in Japan followed up by a press conference and a comment on the monetary policy of the Bank of Japan. The level of the rate is expected to remain unchanged at -0.1% determining the “dovish” tendency of the regulator which may have a negative impact on the rate of the Japanese currency.
Support levels: 112.88, 112.75, 112.60, 112.30.
Resistance levels: 114.00, 114.30, 114.50 Now 115.50
Support levels: 112.88, 112.75, 112.60, 112.30.
Resistance levels: 114.00, 114.30, 114.50 Now 115.50
USDJPY UP TREND
Analysis: supposedly, an uptrend continues developing within the wave C of senior level. Apparently, the first wave i of C has been formed and a downward correction is developing as the wave ii of C, with a descending impetus forming in the wave (c) of ii. If the presumption is correct,
USDJPY UP TREND NEXT MONTH
MACD indicates that momentum is improving, but it remains in bearish territory. I expect the histogram as well as moving average to approach the centerline during the expected move higher. RSI is trading in territory and a break should initiate the rally.Current Level 113.46 I expect the pair to be trading near 115.20 towards the end of the forecast period which will conclude on the 1st of December, 12:00 GMT Ideally, the pair will follow the expected price path as outlined on the charts
USDJPY DOWN TREND NEXT MONTH
MACD indicates that momentum is improving, but it remains in Bullish territory. I expect the histogram as well as moving average to approach the centerline during the expected move Lower. RSI is trading in territory and a breakout should initiate the rally.Current Level 112.77 I expect the pair to be trading near 111.25 towards the end of the forecast period which will conclude on the 1st of November, 12:00 GMT, Ideally, the pair will follow the expected price path as outlined on the charts.