empty
 
 
28.11.2024 05:29 AM
Technical Analysis of Intraday Price Movement of USD/JPY Main Currency Pairs, Wednesday November 27, 2024.

This image is no longer relevant

If we look at the 4-hour chart of the main USD/JPY currency pair, there are several interesting things, namely, its price movement moves harmoniously within the Bearish Pitchfork channel, it is also below the MA (50) whose slope slopes downwards, besides that, a Bearish 123 pattern also appears, followed by a hidden deviation between the MACD Histogram indicator and the USD/JPY price movement, so based on these facts, it can be concluded that USD/JPY is in a weakening condition so that in the near future level 152.32 will be tested if it is successfully broken and closes below it, then USD/JPY will continue to weaken to level 151.29 and/or Lower Line Bearish Pitchfork if momentum and volatility support it, then 149.17 could be the next target to be targeted, but all these weakening scenarios will be invalid and canceled by themselves if suddenly USD/JPY strengthens again to break and close above level 155.19.

(Disclaimer)

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $5000 more!
    In November we raffle $5000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback