Weak Negative Candidate -Medium term, Oct 1, 2017
Analysis Explanation
USDJPY is in a falling trend and a continued decline within this trend may be expected.
In addition, the price has now risen up towards the ceiling of the trend channel, which should give a reaction down.
Is moving within a rectangle formation between support at 108 and resistance at 114.
A decisive break through one of these levels indicates the new direction for the currency.
The currency has marginally broken up through the resistance at points 112.
An established break predicts a further rise.
The currency is overall assessed as technically slightly negative for the medium long term.
Analysis Explanation
USDJPY is in a falling trend and a continued decline within this trend may be expected.
In addition, the price has now risen up towards the ceiling of the trend channel, which should give a reaction down.
Is moving within a rectangle formation between support at 108 and resistance at 114.
A decisive break through one of these levels indicates the new direction for the currency.
The currency has marginally broken up through the resistance at points 112.
An established break predicts a further rise.
The currency is overall assessed as technically slightly negative for the medium long term.
Note
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.