Join +750K new investors every month who copy stock picks from billionaire's portfoliosSign Up Free

USD/JPY Remains In Uptrend From 88.06

Published 02/06/2013, 08:55 PM
Updated 07/09/2023, 06:31 AM
USD/JPY
-

USD/JPY remains in uptrend from 88.06 - the fall from 94.05 is treated as consolidation of the uptrend. Support is located at the lower line of the price channel on 4-hour chart, as long as the channel support holds, the uptrend could be expected to resume, and another rise to 95.00 area is still possible. On the downside, a clear break below the channel support will suggest that a cycle top has been formed at 94.05, and lengthier consolidation of the longer term uptrend from 79.07 (Nov 9, 2012 low) is underway, then deeper decline to 91.00 area could be seen.

usdjpy

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.