The USDJPY hits the extended target – Analysis - 09-03-2021

Economies.com
2021-03-09 05:24AM UTC

The USDJPY pair rallied upwards again to succeed touching our waited target at 109.22, facing solid resistance there that might force the price to rebound bearishly and start intraday bearish wave.

 

Therefore, we prefer staying aside temporarily until we get clearer signal for the next trend, noting that breaking 108.85 will confirm the continuation of the decline and start bearish correction that targets 107.90 areas mainly, while breaching 109.22 represents the key to achieve new gains that reach 109.85 followed by 110.30.

The expected trading range for today is between 108.50 support and 109.85 resistance

The expected trend for today: Bullish

Forex and Currency News

Forex News

Forex

Dollar hits six-week high ahead of US growth data
2024-03-28 11:38AM UTC
US Dollar's Rise in European Trade The US dollar rose in European trade on Thursday against a ...
EUR/USD news

Forex

Euro sharpens decline to five-week trough on the interest rate gap
2024-03-28 08:30AM UTC
Euro declined in European trade on Thursday against a basket of major rivals, sharpening losses for ...
Forex News

Forex

Dollar under pressure ahead of Christopher Waller's speech
2024-03-27 11:18AM UTC
The dollar declined in European trade on Wednesday against a basket of major rivals away from ...

Forex Technical Analysis

USD CHF Analysis

Forex

The USDCHF price faces temporary negative pressure – Forecast today - 29-03-2024
2024-03-29 01:48AM UTC
USDCHF Price Analysis Expected Scenario: Bullish Trend The USDCHF pair rebounded bearishly ...
NZD USD Analysis

Forex

The NZDUSD price keeps its negative stability – Forecast today - 29-03-2024
2024-03-29 01:47AM UTC
NZDUSD Price Analysis Expected Scenario: Bearish Trend The NZDUSD price remains below the ...
AUD USD Analysis

Forex

The AUDUSD price awaits confirmed break – Forecast today - 29-03-2024
2024-03-29 01:47AM UTC
AUDUSD Price Analysis Expected Scenario: Bearish Momentum The AUDUSD price failed to sustain ...