empty
24.03.2023 04:14 PM
Trading Signal for USD/JPY for March 24 - 27, 2023: buy above 130.10 (3/8 Murray - rebound)

This image is no longer relevant

Early in the US session, the Japanese Yen is trading around 130.10 bouncing after reaching a low around 129.62, the level which coincides with 3/8 Murray (129.68).

Japanese yen like gold is a safe haven asset and it has been strengthening since the beginning of the month. It is now trading at oversold levels, so a technical bounce is likely in the coming days.

In case the Yen trades above 129.68 and above the psychological level of 130.00, it could reach the top of the downtrend channel of 131.50.

A sharp break of the downtrend channel formed since March 3 could be a sign of a trend reversal and the yen could climb above the 200 EMA located at 133.44 and finally hit 6/8 of Murray located at 135.22.

On the other hand, in case the USD/JPY pair falls and rebounds back to the 129.68 zone, it will be considered a signal to buy with targets at 131.25 and 131.46 (4/8 Murray).

Our trading plan for the next few hours is to buy at current price levels around 130.10, with targets at 131.46 and 133.44 (200 EMA). The eagle indicator has been giving a positive signal since March 20 which supports our bullish strategy.

Dimitrios Zappas,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

Trading Signals for EUR/USD for April 2-5, 2025: sell below 1.0815 (21 SMA - +1/8 Murray)

If the euro breaks and consolidates above the bearish trend channel, we could expect it to reach +1/8 Murray level at 1.0864 in the coming days. EUR/USD could even reach

Dimitrios Zappas 15:18 2025-04-02 UTC+2

Trading Signals for GOLD (XAU/USD) for April 2-5, 2025: sell below $3,140 or buy above $3,110 (21 SMA - symmetrical triangle)

The symmetrical triangle pattern observed on the H4 chart shows that gold could experience a strong bullish impulse to reach 3,169, where resistance R_1 is located. Below this area

Dimitrios Zappas 15:15 2025-04-02 UTC+2

Forex forecast 02/04/2025: EUR/USD, USD/JPY, USDX and Bitcoin

Useful links: My other articles are available in this section InstaForex course for beginners Popular Analytics Open trading account Important: The begginers in forex trading need to be very careful

Sebastian Seliga 11:34 2025-04-02 UTC+2

Forecast for EUR/USD on April 2, 2025

On Tuesday, the EUR/USD pair rebounded from the support zone at 1.0781–1.0797 but failed to rise to the 200.0% Fibonacci level at 1.0857. On Wednesday morning, the pair returned

Samir Klishi 11:23 2025-04-02 UTC+2

Forecast for GBP/USD on April 2, 2025

On the hourly chart, the GBP/USD pair continued to move sideways on Tuesday. There is currently no dominance of either bulls or bears in the market—and this has been

Samir Klishi 11:17 2025-04-02 UTC+2

EUR/USD Forecast for April 2, 2025

By the end of yesterday, the euro fell by 25 pips, but risk appetite in the market continued to grow: the S&P 500 rose 0.38%, the yield on 5-year U.S

Laurie Bailey 04:49 2025-04-02 UTC+2

GBP/USD Forecast for April 2, 2025

Yesterday's data on UK manufacturing activity for March showed a decline from 46.9 to 44.9. Against the backdrop of the U.S. index falling from 52.7 to 50.2, the drop

Laurie Bailey 04:49 2025-04-02 UTC+2

Bitcoin Forecast for April 2, 2025

Bitcoin (BTC) After reaching the support level of 81,231 (the approximate low from March 4 and 18), the price approached the MACD line (86,038). A breakout above this line would

Laurie Bailey 04:49 2025-04-02 UTC+2

Trading Signals for EUR/USD for April 1-3, 2025: sell below 1.0804 (21 SMA - 8/8 Murray)

Early in the American session, the euro is trading around 1.0791, undergoing a technical correction after reaching the top of the downtrend channel formed on March 14 and showing signs

Dimitrios Zappas 15:06 2025-04-01 UTC+2

Trading Signals for GOLD (XAU/USD) for April 1-3, 2025: sell below $3,144 (21 SMA - 8/8 Murray)

On the other hand, if the price consolidates below the 8/8 Murray level at 3,125, the outlook will be negative. So, we believe the instrument could reach 3,091

Dimitrios Zappas 15:04 2025-04-01 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.