On the daily chart, the pair is trading in the lower Bollinger band. The price remains below its moving averages that turned down. The RSI is falling towards its beginning of February support. The Composite, however, is horizontal.

USD/JPY: technical analysis


On the 4-hour chart, the pair is falling along the lower MA of Bollinger Bands. The price remains below its moving averages that are directed down. The RSI is about to test its most recent support level. The Composite turned up to retest its longer MA. Both indicators start forming a divergence with the price.

USD/JPY: technical analysis

Key levels

Support levels: 111.58 (local lows), 110.85 (February lows), 107.75 (October 2014 lows).

Resistance levels: 113.37 (local highs), 114.00 (active trade), 114.87 (February highs).

Trading tips

Short positions can be opened from the level of 110.80 with the target at 107.95 and stop-loss at 111.50. Validity – 3-4 days.

Long positions can be opened from the level of 113.40 with the target at 114.00 and stop-loss at 113.19. Validity – 1-2 days.

Materials published on this page are provided by LiteForex for informational purposes only and should not be construed as investment advice or advice for the purposes of 2004/39/EC Directive. In addition, these materials have not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibition on the further distribution of investment research.

Follow us in social networks!
Live Chat
Leave feedback