Refer a friend

The #USDJPY price is coming into key highs which could act as resistance in the short term. Will the market break lower from here?

Watch the video to learn more…

USDJPY Analysis

The price of USDJPY is approaching a key high around the 116.00 zone.  The last time the market reached these highs we saw a sharp sell off in the market which could happen again if the sellers are willing to push the price lower from here.

Fundamentally the USD could remain strong as inflation rose once again today. The JPY has also sold off recently as the risk off mood switches to talk of inflation instead. But despite this we could see the market reverse from the highs.

forex chart of the day USDJPY

Looking at the price action we can see that the price is forming a double top pattern on the 4hr time frame which could lead to a reversal if the price was to break the previous 4hr candle low. Alternatively if the price breaks lower on the 15 minute time frame we could look for an earlier opportunity. 

Do you trade Crude Oil? See our latest analysis here.

Enjoy low spreads and quick trade executions with a live account. Our highly committed customer support team will assist you from your quick account setup to any future concerns. Start trading with Blueberry Markets today.

About The Author

Join us on Telegram
and get real-time
alerts on
Indices, Gold, Crypto
and Share CFDs

Join now for free
telegram cta
bbjam graphic

Sign up to
Blueberry Jam

Back up your trade positions with insights
and how-to-guides, straight to your
inbox every week

Thank you. You have successfully subscribed to Blueberry Jam!