in

US Dollar May Rise Versus Japanese Yen Provided Resistance Above $110 Gives Way – Cryptovibes.com – Daily Cryptocurrency and FX News

US Dollar May Rise Versus Japanese Yen Provided Resistance Above $110 Gives Way – Cryptovibes.com – Daily Cryptocurrency and FX News


USDJPY Price Analysis – September 01

When the bulls increase their pressure, the resistance level of $110 may be broken up which may expose the price to $111 and $112 resistance levels. In case the bears increase their pressure, price may decrease below the support level of $109 and if the daily candle close below it, it will decrease the price to $108 and $107 support level.

USDJPY Market

Key levels:

Resistance levels: 110, $111, $112

Support levels: $109, $108, $107

USDJPY Long-term Trend: Ranging

USDJPY is on the ranging movement. The currency pair continues its ranging movement between the resistance level at $110 and support level at $109. This scenario commenced two weeks ago when the bulls and the bears are warring at each other on daily chart in the USDJPY market. The support level at $109 level holds the price and this prevents the bears from breaking down the support level of $109. In the same way, the resistance level of $110 holds.

USDJPY Daily chart, September 01

USDJPY continues hovering over and around the 9 periods EMA and 21 periods EMA as a sign of ranging market. When the bulls increase their pressure, the resistance level of $110 may be broken up which may expose the price to $111 and $112 resistance levels. In case the bears increase their pressure, price may decrease below the support level of $109 and if the daily candle close below it, it will decrease the price to $108 and $107 support level.

USDJPY Medium-term Trend: Ranging

On the 4-hour chart, USDJPY is on the ranging movement. The bulls are yet to gain enough momentum that will break up the resistance level at $110,also, the bears possesses low momentum, and there is no force to break down support level at $109. The ranging movement may continue until there is a breakout.

USDJPY 4 hour chart, September 01

The price is trading around the 9 periods EMA and the 21 periods EMA, the Relative Strength Index period 14 is at 50 levels with the signal line displaying buy signal.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

GIPHY App Key not set. Please check settings

What do you think?

Bitcoin is Back for Crypto Betting

Bitcoin is Back for Crypto Betting

Bitcoin Reserves on Coinbase the Lowest Since December 2017

Coinbase – MrBeast sweepstakes