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USDJPY Price; Bulls’ and Bears’ Low Momentum Equals Ranging Market – Cryptovibes.com – Daily Cryptocurrency and FX News

USDJPY Price; Bulls’ and Bears’ Low Momentum Equals Ranging Market – Cryptovibes.com – Daily Cryptocurrency and FX News


USDJPY Price Analysis – May 26

When the bears exert more pressure to break down the support level of $108 and the daily candle close below the $108 level, it will decrease the price to $107 support level, further decrease will push price to $105.

USDJPY Market

Key levels:

Supply levels: $109, $111, $113

Demand levels: $108, $107, $105

USDJPY Long-term Trend: Bearish

USDJPY is bearish on the long-term outlook.  There was no significant movement in the USDJPY market last week. Though the sellers still hold the market as the price remains below the two dynamic resistance. The price is ranging around the support level of $108 with more bearish force than that of the bulls.

USDJPY Daily chart, May 26

The 9 periods EMA is interlocked with the 21 periods EMA and the pair is trading around the 9 periods EMA and 21 periods EMA indicating a consolidating market. When the bears exert more pressure to break down the support level of $108 and the daily candle close below the $108 level, it will decrease the price to $107 support level, further decrease will push price to $105. In case the bulls’ pressure interrupt the bears’ pressure ranging market may continue or the bullish movement may commence towards the resistance level at $109, $111 and $113.

 USDJPY Medium-term Trend: Ranging

USDJPY is on the ranging movement on the 4-hour chart. The bears lose momentum and could not drive the price below the support zone of $108. The bulls’ pressure is equally weak and could not push up the price above the just mentioned level. The price is currently consolidating around the $108 zone.

USDJPY 4 hour chart, May 26

The price is ranging and trading over and around the 9 periods EMA and the 21periods EMA, the Relative Strength Index period 14 is at 50 levels with the signal line pointing up to indicate a buy signal.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 



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