USD/JPY projected to test 112.81

USD/JPY projected to test 112.81

USD/JPY remains favored by the bullish bias, which strengthened after the formation of a bullish divergence in the RSI indicator two weeks ago. That’s why we’re drawing a Fibonacci expansion which should give us the upcoming key targets. According to that, the pair should extend its price action towards 112.81 and 113.96 (100%). To confirm such scenario, we should witness first a bullish crossover of the 50 SMA with the 200 SMA at H4 chart.

To invalidate that outlook, we should see a break below the support zone of 111.02, in a move that could open the doors to test the former resistance around 110.45. RSI indicator remains in positive territory, supporting the upside.

USDJPYH4.png

Similar

Popular

EUR/USD: "Double Top" pattern

Bulls faced with resistance at 1.2029, so the price is likely going to decline towards the nearest support area at 1.2003 - 1.1975...

promotions you can be interested in

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera