USDJPY Technical Analysis and Harmonic Overview
Weekly Chart: Bearish. The pair is below all main Moving Averages. Anka tested the 18 months low and retraced. Potential Elliot Triangle is in play.
Daily Chart: Bearish. The pair is below all main Moving Averages but trying to hold in the upper Bollinger Band.
H4 Chart: Neutral but shifting to bullish.
H4 Chart Key Levels:
Upside: 106.700 107.030 107.200
Downside: 105.860 105.470 105.070
Bullish Cypher H1 Chart – 104.800
Bearish Cypher H4 Chart – 108.500
Our Comments: Near term bullish move remains as long as the price holds above 106.000. Upside is capped by SMA200 Support at 107.100 and 107.200 EMA D1 at 107.200. The price needs to make H4 closing above 107.200 to continue its near term retracement.
Trade Opportunities: Short opportunity at the breakout of 105.800 and 105.500 and long the Cypher. Long opportunity at 106.500.
Entry alerts with targets will be sent to members.
Important Note: New patterns may appear and some emerging patterns may become invalidated. We publish our live charts D1 H4 H1 and M30 with updates and entry alerts. – Members Only –
Link to USDJPY Live Charts: USDJPY Live Charts
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USDJPY Technical Analysis: Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility