USDJPY Technical Analysis based mainly on weekly and daily charts. You will understand the big picture and where the price price moves can potentially happen.
USDJPY Technical Analysis Dec 4th-8th 2017
- on the weekly chart of usdjpy below, you can see that price has bounced down after hitting the falling trendline.
- if price continues to fall, then the next obstacle to overcome would be the rising trendline. Keep an eye on that trendline as it may present good buying opportunity.
On the daily chart technical analysis of USDJPY, here’s what can be seen:
- price is in a downtrend as the support level has been broken and price has gone up and hit the resistance zone and it is appearing to to be moving down again.
- again, the price may continue to fall and if it does so, watch and wait to see if it hits the rising trendline. Any bullish price action that is seen if price hits that trendline should be take as a good signal to buy this pair.