USD/JPY Intraday: Technical rebound towards 158.20 before a new drop
USD/JPY (USD/JPY)
-0.242-0.15%
Even if a technical recovery cannot be ruled out, a drop towards 156.94 remains likely as long as 158.20 is resistance
Our pivot point is at 158.20.
Our preference: Even if a technical recovery cannot be ruled out, a drop towards 156.94 remains likely as long as 158.20 is resistance
Alternative scenario: above 158.20, look for 158.64 and 158.90.
Comment: the RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. The price stands above its 20 period moving average (157.38) but below its 50 period moving average (157.75).
Supports and resistances:
158.90 **
158.64 *
158.20 **
157.74 last
157.20
156.94 **
156.68 *
Our preference: Even if a technical recovery cannot be ruled out, a drop towards 156.94 remains likely as long as 158.20 is resistance
Alternative scenario: above 158.20, look for 158.64 and 158.90.
Comment: the RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. The price stands above its 20 period moving average (157.38) but below its 50 period moving average (157.75).
Supports and resistances:
158.90 **
158.64 *
158.20 **
157.74 last
157.20
156.94 **
156.68 *
Disclaimer: References, analysis and trading strategies are provided by the third-party provider, Trading Central, and the point of view is based on the independent assessment and judgment of the analyst, without considering the investment objectives and financial situation of the investors. All strategic opinions do not constitute investment advice or recommendations and are for references only. Our company also does not guarantee the accuracy of the strategic views and does not take any responsibility for the negative results caused by the trading strategies.
