empty
11.10.2023 06:24 AM
Trading Signals for USD/JPY for October 11-12, 2023: buy above 148.85 (21 SMA - 7/8 Murray)

This image is no longer relevant

USD/JPY is trading around 148.72, below the 21 SMA, and above 7/8 Murray. On the H-4 chart, we can see that the instrument is within a downward trend channel formed since October 3, but it is showing oversold signs. It is likely that there will be a technical rebound in the coming days and USD/JPY could approach the psychological level of 150.00 (8/8 Murray).

At the opening of negotiations this week, the Japanese yen left a bearish GAP around 149.25. This GAP is likely to be covered in the coming days, only if the Japanese yen breaks the bearish trend channel sharply and consolidates above 148.90.

On the other hand, if the USD/JPY pair fails to overcome the 148.85 area, we could expect a fall and the price could reach the 200 EMA located at 147.68.

The Japanese yen has also been a refuge asset for many years in case of increased risk aversion. Therefore, if geopolitical problems persist, it is likely that the yen will continue to fall. The key will be to watch for it to trade below 149.00, then it could reach 147.68 (200 EMA) and even 6/8 of Murray at 146.87.

The eagle indicator is giving a positive signal which could favor an increase in USD/JPY and the instrument could reach 149.50 and 150.00. On the other hand, if the Japanese yen falls below 148.43 (7/8 Murray), it could be seen as a clear signal to sell with the target at 147.68 (200 EMA).

Dimitrios Zappas,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
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

Recommended Stories

Forex forecast 25/03/2025: EUR/USD, USD/CAD, SP500 and Bitcoin

Useful links: My other articles are available in this section InstaForex course for beginners Popular Analytics Open trading account Important: The begginers in forex trading need to be very careful

Sebastian Seliga 09:56 2025-03-25 UTC+2

Technical Analysis of Intraday Price Movement of EUR/JPY Cross Currency Pairs, Tuesday March 25, 2025.

From what is seen on the 4-hour chart of the EUR/JPY cross currency pair, it is clearly visible that EUR/JPY is moving in a strengthening condition, which is indicated

Arief Makmur 07:19 2025-03-25 UTC+2

Technical Analysis of Intraday Price Movement of Gold Commodity Instrument, Tuesday March 25,2025.

If we look at the 4-hour chart of the Gold commodity instrument, a Bearish 123 pattern appears followed by several Bearish Ross Hook (RH) and is also confirmed

Arief Makmur 07:19 2025-03-25 UTC+2

EUR/USD Forecast for March 25, 2025

On Monday, the euro declined by 14 pips. An attempt to reverse upward was made. A repeat attempt is possible today and may be more successful, although the support level

Laurie Bailey 04:59 2025-03-25 UTC+2

GBP/USD Forecast for March 25, 2025

Yesterday, the British pound rose by four pips, pushing the Marlin oscillator lower and bringing it to touch the zero line. We can now expect the upward signal to solidify

Laurie Bailey 04:59 2025-03-25 UTC+2

AUD/USD Forecast for March 25, 2025

The Australian dollar avoided breaking below the lower boundary of the sideways trend range and rose by 11 pips yesterday. However, the daily-scale balance indicator line (the red moving average)

Laurie Bailey 04:59 2025-03-25 UTC+2

Trading Signals for GOLD (XAU/USD) for March 24-27, 2025: sell below $3,032 (21 SMA - overbought)

Early in the American session, gold is trading at 3,026, below the 21st SMA and below the 7/8 Murray level. We expect consolidation below this area in the coming hours

Dimitrios Zappas 16:44 2025-03-24 UTC+2

Forex forecast 24/03/2025: EUR/USD, GBP/USD, USD/JPY, Gold and Bitcoin

Useful links: My other articles are available in this section InstaForex course for beginners Popular Analytics Open trading account Important: The begginers in forex trading need to be very careful

Sebastian Seliga 14:34 2025-03-24 UTC+2

Weekly Technical Analysis for March 24–29: GBP/USD Currency Pair

Last week, the pair moved downward and tested the 14.6% retracement level at 1.2879 (red dashed line), closing the weekly candle at 1.2915. In the upcoming week, the price

Stefan Doll 13:24 2025-03-24 UTC+2

Weekly Technical Analysis for March 24–29: EUR/USD Currency Pair

Last week, the pair moved downward and tested the historical resistance level of 1.0948 (light blue dashed line), after which the price declined and closed the weekly candle at 1.0815

Stefan Doll 13:22 2025-03-24 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.