USDJPY | Get ready to buy | Buy OpportunityIf you find this technical analysis useful, please like & share our ideas with the community. Coming to the technical analysis of USDJPY, I think we are going to see an upward movement. Now price is staying near a support as well as a demand area, which would help the price to get pass the above resistance areas move towards 113.890; which is a supply area. From there we could expect a sell. If you are going to go long now, make sure to place the stop below the previous support area.
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Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
Usdjpysupportzone
USD/JPY Technical Analysis.Currently, USD/JPY is trading at 104.55. The pair is trading in a downtrend from some time and now rebounded back after touching the support level at 104.10, as it has rebounded from the support level, it can be an event effect. If it breaks the support level at 104.10 and enters the support zone, then it can go down further and touch the bottom of the support zone at 102.21.
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Rishikesh Lilawat