USD/JPY: milestones of 2020 in the uptrend of 2021

USD/JPY: milestones of 2020 in the uptrend of 2021

2023-03-08 • Dikemaskini

If you open the weekly chart of USD/JPY, you’ll see that most of the performance since 2015 has been following the marked trend. So far, there is little evidence – neither fundamental nor technical – to assume that this downtrend is going to change. Especially that many observers comment that the USD may grow stronger that it used to be until recently. Therefore, let’s presume that the currency pair just has touched the bottom of the downtrend at 102.60 and will now bounce upwards to form an upswing. How would this scenario look like?

1.png

On the daily chart, you’ll notice that the upward movement of USD/JPY roughly repeats the steps it did on the way down. For example, 104.30 used to be the resistance zone in November – and so it was in January until the pair finally broke it. After that, USD/JPY stopped at 105.65 – exactly the high of November 12. Finally, the current resistance of 106.00 corresponds to the October highs. That’s why it seems logical to assume the USD/JPY may be making similar swings around the resistance levels it left before. Therefore, the next one we’d have to look for is 107.00, with the possible intermediary targets at 106.20 and 106.60. 107.00 is the August resistance, and 108.00 was the June-July high. Therefore, when and if 107.00 gets broken, 108.00 will be the one to go. If our hypothesis of the repetition of the previous highs is correct, this cascade-like series of upswing will take around a month to climb to 108.00. That’s why, if you are to test this approach, it will be more fitting for mid-term position trading, with one single upswing taking several to complete. Let’s time-test it!

645654546545555555555555555555555555555555555555.png

                                                                                                             LOG IN

Serupa

Ulasan trend matawang penghujung tahun 2020
Ulasan trend matawang penghujung tahun 2020

Tahun 2020 akhirnya melabuhkan tirainya. Akhirnya. Mari kita lihat apa yang berlaku di pasaran Forex sepanjang tahun berkenaan dan cuba mencari tahu apa yang mungkin berlaku pada tahun berikutnya.

Berita terkini

Deposit dengan sistem pembayaran tempatan anda

Notis pengumpulan data

FBS menyimpan rekod data anda untuk mengoperasikan laman web ini. Dengan menekan butang "Terima", anda menyetujui Polisi Privasi kami.

Callback

Pengurus akan menghubungi anda dalam amsa terdekat

Tukar nombor

Permohonan anda telah diterima

Pengurus akan menghubungi anda dalam amsa terdekat

Permohonan panggil balik seterusnya untuk nombor telefon ini
boleh dilakukan dalam dalam

Jika anda mempunyai isu yang perlu disegerakan, sila hubungi kami menerusi
Live Chat

Masalah dalaman. Sila cuba sebentar lagi

Jangan bazir masa anda – pantau bagaimana NFP mempengaruhi dolar AS dan kaut keuntungan!

Anda sedang menggunakan pelayar web yang versinya sudah lapuk.

Kemaskini kepada versi terkini atau cuba pelayar lain untuk penggunaan yang lebih selamat, selesa dan produktif.

Safari Chrome Firefox Opera