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MARKET ANALYSIS Archives - Forex Trading

Market Analysis USDJPY H4

Trading recommendations for the USD/JPY for October 17–18, 2023: sell below 149.51 (the symmetrical triangle that represents the 21 SMA).   1. Current Trading Conditions: Early in the European session, the USD/JPY pair is trading around 149.55. It is positioned above the 21-period Simple Moving Average (SMA) but below the 4/8 Murray level. 2. Symmetrical…

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Daily Market Analysis

USDJPY, Daily   1. Bullish Momentum:  The analysis suggests that USD/JPY is displaying bullish momentum within an ascending channel. This indicates that the price of the currency pair is generally trending higher. 2. 1st Support: The first support level is identified at 144.93. This level is aligned with the 38.20% Fibonacci Retracement, which is a…

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