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Farooq

Technical Analysis – USDJPY _ 04-03-2019

HomeTechnical AnalysisTechnical Analysis – USDJPY _ 04-03-2019
04
Mar
Technical Analysis – USDJPY _ 04-03-2019

The pair is trading at a high of 111.70 (the second objective of the bullish scenario) and around the upper limit of the ascending channel shown on the 4 hour chart … The current uptrend could continue to the third target at 112.50, but the saturation of Stochastic and RSI The price may force the pair to retreat towards support 112.25 – 111.05 to gather enough bullish momentum.
A break of the 4 hour closing channel below 110.00 might be enough to end the upside scenario and the price could then head to 109.25 as the first target and then 108.50 as the second target


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