Forex Review Online
No Result
View All Result
  • Home
  • Crypto
  • Education
  • News
start trading today
  • Home
  • Crypto
  • Education
  • News
No Result
View All Result
Forex Review Online
No Result
View All Result
Home ANALYSIS

USDJPY above 110.00. Can it stay above?

A.R Chowdhury by A.R Chowdhury
August 24, 2021
Reading Time: 2 mins read
0

Held resistance against the 61.8% retracement/ahead of the high from last week

The USDJPY has seen a move higher today help by better risk on sentiment.

Held resistance against the 61.8% retracement/ahead of the high from last week_

Recall from Friday, the price came down and tested its 100 hour moving average (lower blue line) and found support buyers. Today in the early Asian session, the price retested that moving average line and found buyers once again. That set traders up for a move higher. 

When the price started to extend and stay above the 200 hour moving average (green line), buyers made another push to the upside that saw a swing area between 110.02 and 110.06 and a test of the 61.8% retracement of the move down from the August 11 high at 110.149.

Last week, the price did extend above that retracement level but could not sustain momentum.

We are seeing a rotation back down toward the 110.00 level (and near the lower end of the swing area – see red numbered circles).  In the short term if that area can hold support, the buyers remain in control. We should see a retest and potential break toward the high from last week at 110.222.

Move below the 110.00 level and the rising trendline near 109.91 and the 200 hour moving average at 109.865 would be the next targets. Will below the 200 hour moving average and the buyers will be disappointed with the move, and tilt back to the upside today.

Invest in yourself. See our forex education hub.

Source link

RELATED POSTS

EURGBP erases gains and returns to a familiar bias defining level

New highs for US stocks. The Nasdaq continues to lead

USDJPY has 3 key technical levels that have stalled the rally higher today

ShareTweetPin
A.R Chowdhury

A.R Chowdhury

Related Posts

EURGBP erases gains and returns to a familiar bias defining level
ANALYSIS

EURGBP erases gains and returns to a familiar bias defining level

August 14, 2022
New highs for US stocks. The Nasdaq continues to lead
ANALYSIS

New highs for US stocks. The Nasdaq continues to lead

August 14, 2022
USDJPY has 3 key technical levels that have stalled the rally higher today
ANALYSIS

USDJPY has 3 key technical levels that have stalled the rally higher today

August 14, 2022
WTI crude oil futures settle at $92.09
ANALYSIS

WTI crude oil futures settle at $92.09

August 14, 2022
Bitcoin technical analysis, bulls might be giving up soon
ANALYSIS

Bitcoin technical analysis, bulls might be giving up soon

August 14, 2022
The weekend forex technical report for the week of August 15, 2022
ANALYSIS

The weekend forex technical report for the week of August 15, 2022

August 14, 2022
Next Post

Gold breaks last week's highs and threatens $1800

Dollar steady with major currencies muted ahead of European trading

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended Stories

Major indices snap 2-day losing streak and are closing near their high levels for the session.

July 27, 2020
Wheat futures are up limit for the 6th day in a row

Wheat futures are up limit for the 6th day in a row

March 7, 2022

EUR/USD gives up gains, falls back under 1.0800

April 6, 2020

Popular Stories

  • New highs for US stocks. The Nasdaq continues to lead

    New highs for US stocks. The Nasdaq continues to lead

    0 shares
    Share 0 Tweet 0
  • The USD is the strongest and the NZD is the weakest as the NA session begins

    0 shares
    Share 0 Tweet 0
  • EURGBP erases gains and returns to a familiar bias defining level

    0 shares
    Share 0 Tweet 0
  • What is forex and How does it work?

    0 shares
    Share 0 Tweet 0
  • Bitcoin technical analysis, bulls might be giving up soon

    0 shares
    Share 0 Tweet 0
Forex Review Online

© 2022 My Forex Review - Designed with Jnews Theme.

Navigate Site

  • Home
  • Crypto
  • Education
  • News

Follow Us

No Result
View All Result
  • Home
  • Crypto
  • Education
  • News

© 2022 My Forex Review - Designed with Jnews Theme.