USDJPY Analysis – April 14
USDJPY continues to maintain bullish resilience with an increase in momentum. The bullish order in the market is said to continue as price propulsion also heightens. The buyers are currently willing to purchase more for a profit at higher-order blocks. This, therefore, implies that on the 1-day chart, there will be more bullish resilience in the market due to an increase in bull tension as several order blocks are being broken.
USDJPY Market Zones
Resistance Zones: 124.810,121.290
Support Zones: 118.180, 109.150
USDJPY Long Term Trend: Bullish
The bullish sensation in the market is activated after a tinge at the low of the 109.150 critical level. The price flowed right from the 109.150 level and entered an uptrend path. The bullish structure was affected by the sell traders’ influence on price tendency. USDJPY continues to swing high and low in the uptrend market. The sellers continue to impact the price until the buyers successfully push the price out of the channel.
USDJPY buyers caused a rally up to the 121.290 significant level after breaking through the key zone of 118.180 in the market. The buyers’ potential dropped after a push-up back to 121.290. As a result of this rebound in price, the bull market can maintain more resilience in the market. The moving average crossing indicator continues to widen as the buying trend continues in the market. This indicates that the bulls have continued to pace out.
USDJPY Short Term Trend: Bearish
On the 4-hour chart of the market, the buy traders continue to impact market inclination. The price has broken through the 124.810 critical level, and a retest is visible in the market. Therefore, the market is preparing to make another significant run upward following the short break at the 124.810 key point of the market. The MACD (Moving Average Convergence and Divergence) indicator still shows a price signal flowing around the buy trend region as the price prepares to push beyond the 124.810 key level.
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