Thu, Mar 30, 2023 @ 02:09 GMT
HomeContributorsTechnical AnalysisUSD/JPY Pair Moved into a Positive Zone Above $136.20

USD/JPY Pair Moved into a Positive Zone Above $136.20

The US Dollar started a fresh increase after it tested the 135.60 zone against the Japanese Yen. The USD/JPY pair traded above the 136.20 level to move into a positive zone.

The pair even moved above the 137.00 level, but it is still well below the 50 hourly simple moving average. It is now consolidating near the 137.00 level, with an immediate resistance at 137.25 on FXOpen.

The first major resistance is near the 137.50 zone and the 50 hourly simple moving average. A clear break above the 137.50 resistance could push the price towards 138.00. The next major resistance is near the 138.80 level.

On the downside, an initial support is near the 136.80 zone and a trend line on the hourly chart. The next major support sits near the 136.20 level, below which there is a risk of more downsides towards the 135.60 level.

FXOpen is a global Forex and CFD Broker, founded in 2005 by a group of traders. With over 16 years of experience, the company has gained an excellent reputation a major brokerage that continues to expand rapidly. The broker offers a choice of platforms, including the popular MT4 and MT5 platforms, with a wide range of trading instruments with spreads from 0.0 pips: 600+ FX, index, share, commodity and cryptocurrency CFDs. FXOpen also provides its own PAMM technology, allowing clients to benefit from the strategies of experienced traders with a proven track record of successful trading and guarantees automatic distribution of profit and loss between the strategy provider and the strategy followers. CFDs are complex instruments and come with a high risk of losing your money. PAMM is only available in certain jurisdictions. Cryptocurrency CFDs are not available to Retail clients at FXOpen UK.

Featured Analysis

Learn Forex Trading