Tue, Nov 26, 2024 @ 15:45 GMT
Facebook Mail RSS Twitter
HomeContributorsTechnical AnalysisUSD/JPY Moved Further into a Bullish Zone above $125.00

USD/JPY Moved Further into a Bullish Zone above $125.00

FXOpen
By FXOpen

The US Dollar started a steady upward move above the 124.50 resistance against the Japanese Yen. The USD/JPY pair traded above the 125.00 level to move further into a bullish zone.

The pair even traded above 125.50 and settled above the 50 hourly simple moving average. A high is formed near 125.75 and the pair is still showing positive signs. An immediate support is near 125.35.

The next major support sits near the 125.25 level and a connecting bullish trend line on the hourly chart, below which there is a risk of more downsides. In the stated case, the pair could decline towards the 124.80 level.

On the upside, an immediate resistance is near the 125.75 level. A clear break above the 125.75 resistance could push the price towards 128.20 on FXOpen. The next major resistance is near the 128.80 level or 129.00.

FXOpen
FXOpenhttps://www.fxopen.com/
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

Load more

Learn Forex Trading

ActionForex.com was set up back in 2004 with the aim to provide insightful analysis to forex traders, serving the trading community for over a decade. Empowering the individual traders was, is, and will always be our motto going forward.

Contact us: contact@actionforex.com

© ActionForex.com © 2024 All rights reserved.