The USDJPY Story: What the 4-hour chart tells traders about the trading bias
2023-05-12
The USDJPY traded up and down this week with clearly defined support and resistance levels. When a break higher failed earlier this week, the price rotated lower. However, the low found support against a key MA level, giving the buyers the go-ahead to re-probe the upside.
On Friday, May 12, the price moved above a key MA level, a key swing area going back to February, and the storyline took a twist with buyers taking more control.
What next?
Well listen to the next chapter in the book by listening to this video. It’s a page turner. I hope you agree.
USDJPY breaks below key hourly MA. What next?
2023-05-10
Discover the reasons behind the recent decline in USDJPY as we analyze the impact of better-than-expected CPI data. The price drops below its 100-hour moving average mark a key technical break with short-term implications. Sellers maintain control as long as the price remains below this level, while a move above it could lead to disappointment due to the failed break.
Stay updated on the USDJPY chart and make informed trading decisions with our forex technical analysis. Subscribe for more market updates and share your thoughts in the comments below. Stay ahead in the forex market!
The GBPUSD moved to a key target level on the daily chart, and found sellers. What next?
2023-05-08
The GBPUSD moved to a key target level on the daily chart and found sellers. That level comes against swing eyes going back to 2022. Getting above it would open the door for further upside probing. Staying below it and moving below the low of the swing area 1.25987 would likely disappoint the buyers and lead to some downside probing.
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2023-04-28
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