Traders Beware!

Fraudulent websites posing to have a connection with JFD

Please be aware of fraudulent websites
posing as JFD's affiliates and/or counterparties

More information
by Darius Anucauskas

USD/JPY – Technical Outlook

USD/JPY is still above its mid-term upwards moving trendline taken from the low of the 25th of March, which is a positive sign. But from the short-term perspective, the pair is stuck between the 112.17 and 112.80 levels. In the short-run, we could see a drop lower to test some key support levels or even the aforementioned trendline. Nevertheless, until that trendline is intact, the outlook could still be seen as positive. 

For now, we will continue to monitor the previously mentioned short-term range between the 112.17 and 112.80 levels, but remain somewhat positive in the short run. If USD/JPY decides to make a move towards the upper side of that range and eventually break it, this could open the door towards the 113.40 barrier, where the pair could stall for a while. The barrier could be tough to overcome as it acted as strong resistance on the 8th of January.

On the downside, a break below the 112.17 level could interest a few more bears to jump in and drive the pair lower towards the next key area of support at 111.40, marked by the peak of May. A further drop below that level opens the path for a test of the abovementioned upside trendline that could initially stop the falling. This is where the big battle, over the faith of USD/JPY, between the bulls and the bears could start again.

2018.07.17 USDJPY 240 Logo


The content we produce does not constitute investment advice or investment recommendation (should not be considered as such) and does not in any way constitute an invitation to acquire any financial instrument or product. JFD Brokers, its affiliates, agents, directors, officers or employees are not liable for any damages that may be caused by individual comments or statements by JFD Brokers analysts and assumes no liability with respect to the completeness and correctness of the content presented. The investor is solely responsible for the risk of his investment decisions. Accordingly, you should seek, if you consider appropriate, relevant independent professional advice on the investment considered. The analyzes and comments presented do not include any consideration of your personal investment objectives, financial circumstances or needs. The content has not been prepared in accordance with the legal requirements for financial analyzes and must therefore be viewed by the reader as marketing information. JFD Brokers prohibits the duplication or publication without explicit approval.

FX and CFDs are leveraged products. They are not suitable for every investor, as they carry high risk of losing your capital. You should be aware of all the risks associated with trading on margin. Please read the full Risk Disclosure.

Copyright 2018 JFD Brokers Ltd.