USD/JPY - a significant breakout
It seems that the Japanese Yen has been strengthening since the beginning of September. The USD/JPY currency pair has broken key support levels at 105,78 and at 105,10. As a consequence, the market has reached the lowest levels in two months.
From the technical point of view, the broken support at 105,10 could be a potential resistance right now. It seems that only a move above that level may change the sentiment from bearish to bullish.
The next nearest possible target for the Yen buyers may be set by the lower limit in a downward channel and by the low from July at 104,18.
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Daniel Kostecki, Chief Analyst Conotoxia Ltd.
Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.
79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
From the technical point of view, the broken support at 105,10 could be a potential resistance right now. It seems that only a move above that level may change the sentiment from bearish to bullish.
The next nearest possible target for the Yen buyers may be set by the lower limit in a downward channel and by the low from July at 104,18.
________
Daniel Kostecki, Chief Analyst Conotoxia Ltd.
Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.
79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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Wyłączenie odpowiedzialności
Informacje i publikacje przygotowane przez TradingView lub jego użytkowników, prezentowane na tej stronie, nie stanowią rekomendacji ani porad handlowych, inwestycyjnych i finansowych i nie powinny być w ten sposób traktowane ani wykorzystywane. Więcej informacji na ten temat znajdziesz w naszym Regulaminie.