USDJPY, Daily
In the Daily Timeframe, USDJPY is in a long-term uptrend. The price fell to the trend line, testing the support area and MA50. Despite the long-term rise, Momentum has fallen below the 100.00 level, so there are two options to consider.
- If the price breaks the trend line and falls below 155.00 and MA50, a bearish trend to 152.000 will start;
- Otherwise, a rebound from the trendline will bring USDJPY back to 158.000;
Conclusion
In conclusion, trading CFDs carries inherent risks. Success in this field demands effective risk management. To minimize costly errors and capitalize on trading opportunities, it's crucial to conduct thorough due diligence and manage risks diligently.
