Category: USDJPY

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USDJPY Weekly Forex Forecast 30 September to 6th October by yshashmi37 on TradingView.com

Midterm forecast:

111.65 is a major support, while this level is not broken, the Midterm wave will be uptrend.
We will close our open trades, if the Midterm level 111.65 is broken.
Technical analysis:

While the RSI support #1 at 43 is not broken, the probability of price decrease would be too low.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index ( RSI ) is 70.

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USDJPY Weekly Forex Forecast 22nd September To 29th September by yshashmi37 on TradingView.com

Midterm forecast:

There is no trend in the market and the price is in a range bound, but we forecast an uptrend wave above 109.90 would begin in Midterm.
We will close our open trades, if the Midterm level 109.90 is broken.
Technical analysis:

The RSI bounced from the resistance #1 at 74 and it prevented price from more gains.
The RSI resistance #2 at 58 is broken, so the probability of resumption of uptrend is increased.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index ( RSI ) is 63.