Wednesday 8th March 2023: Technical Outlook and Review
The price is approaching our 1st support level at 1804, which is an overlap support. If the price were to break from this level, we could see it drop back down to the 2nd support level at 1785, which is a major overlap support.
Tuesday 7th March 2023: Technical Outlook and Review
We’re seeing price test major resistance at 80.81 which is a recent swing high resistance. It is worth noting that price is seeing a recent ascending support line suggesting that there might be bullish momentum.
Monday 6th March 2023: Technical Outlook and Review
Price has bounced off from our first support and it could potentially push up to our first resistance level at 1880 with the 50% Fibonacci retracement. However, if the price were to break, it could push up to our second resistance level at 1907 with the 61.8% Fibonacci retracement.
Friday 03rd March 2023: Technical Outlook and Review
Price has broken out of a recent bearish channel suggesting a bullish move might be on the cards. We’re seeing the 1st resistance at 1864 which is an overlap resistance that lines up with the 38.2% Fibonacci retracement.
Thursday 02nd March 2023: Nikkei soars on inflation cues
Global Markets: Asian Stock Markets : Nikkei up 1.5%, Shanghai Composite […]
Thursday 02nd March 2023: Technical Outlook and Review
Price has broken out of a recent bearish channel suggesting a bullish move might be on the cards. We’re seeing the 1st resistance at 1864 which is an overlap resistance that lines up with the 38.2% Fibonacci retracement.
Wednesday 1st March 2023: Asian markets continue higher
Global Markets: Asian Stock Markets : Nikkei up 0.26%, Shanghai Composite […]
Wednesday 1st March 2023: Technical Outlook and Review
Price is testing a key 1st support at 1786 area which is a 50% Fibonacci retracement lining up with an overlap support. If price were to bounce from here, it could potentially rise to 1st resistance at 1867 which is a 38.2% Fibonacci retracement.
Tuesday 28th February 2023 : Technical Outlook and Review
Looking at the H4 chart, my overall bias for USDJPY is bullish due to the current price being above the Ichimoku cloud, indicating a bullish market. To add confluence to this bias, price is also along an ascending trendline.
