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Business / Finance

Determination of potential trend - USDJPY. The bulls retain the advantage.

FreshForex news RSS 10.01.2020 at 21:40

News Forex from FreshForex

USDJPY - Down

Daily chart: growth continues amid the correction of the ADX indicator, which almost certainly would have been the bulls ' weakness and, therefore, good prospects of a turn down. However, today NFP will decide, and probably the volatility will be high.

H4: the local trend pressure remains high, that gives a positional advantage to the buyers that, with high probability, will try today to attack the barrier in the form of resistance 110.00.

H1: in the area of local resistance 109.60 observed corrective reversal ADX curve that could be interpreted as a signal of weakening buyers. But again, let's not forget that today is the day "Foundation". More likely to have a bullish scenario.

Insights:

the Main scenario - growth to 110.00 and possibly higher.

Alternative scenario - reversal down from 109.60 and fall in the area of 109.00.

Trading decisions: buy to 110.00 and above.

With other analytical reviews you can find on the website "FreshForex".