empty
28.03.2023 04:09 PM
Trading Signal for USD/JPY for March 28 - 29, 2023: sell below 131.25 (4/8 Murray - bearish channel)

This image is no longer relevant

Early in the US session, the Japanese Yen is trading around 131.01, making a retracement after reaching a high of around 131.28, the level which coincides with 3/8 Murray (131.25).

In case the Yen trades below 131.25 (4/8 Murray) and below the 21 SMA, it could reach the bottom of 3/8 Murray around 129.68.

A sharp break of the downtrend channel formed since March 27 could be a sign of a trend reversal and the yen could climb above the 200 EMA located at 131.80 and finally hit 5/8 of Murray located at 132.81.

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 (4/8 Murray) and 131.80 (200 EMA).

Below 131.25, the Yen could extend its strength and quickly reach the psychological level of 130.00 and finally reach 3/8 Murray located at 129.68.

Our trading plan for the next few hours is to sell at current price levels around 131.09 or in case of a pullback at 131.25, with targets at 130.15 (bottom bearish channel) and 129.69 (3/8 Murray). The eagle indicator has been giving an overbought signal which supports our short 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

USD/CAD. Analysis and Forecast

The pair is attempting to attract buyers, but spot prices remain close to a yearly low and appear vulnerable to further decline. The Canadian dollar is supported by reports

Irina Yanina 15:33 2025-06-06 UTC+2

EUR/JPY. Analysis and Forecast

The EUR/JPY pair continues to demonstrate stable positive dynamics. Spot prices remain near a three-week high. Factors supporting the rise of EUR/JPY include disappointing data on household spending in Japan

Irina Yanina 11:21 2025-06-06 UTC+2

Forecast for EUR/USD on June 6, 2025

On Thursday, the EUR/USD pair continued its upward movement but made two rebounds from the 76.4% corrective level at 1.1454, suggesting a potential reversal in favor of the U.S. dollar

Samir Klishi 11:09 2025-06-06 UTC+2

Forecast for GBP/USD on June 6, 2025

On the hourly chart, the GBP/USD pair on Thursday rose to the resistance zone of 1.3611–1.3620, rebounded from it, and turned in favor of the U.S. dollar. A decline began

Samir Klishi 11:03 2025-06-06 UTC+2

Forex forecast 06/06/2025: EUR/USD, USD/JPY, SP500, Oil, Ethereum 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 09:51 2025-06-06 UTC+2

Forecast for EUR/USD on June 6, 2025

Yesterday, the ECB as expected cut key rates by a quarter point, bringing the refinancing rate to 2.15%. At the press conference, ECB President Christine Lagarde stated that rates have

Laurie Bailey 08:21 2025-06-06 UTC+2

Forecast for GBP/USD on June 6, 2025

GBP/USD Amid yesterday's brief optimism over the ECB's decision to cut rates and nearly complete the easing cycle, the pound almost reached the target level of 1.3635. Today began neutrally

Laurie Bailey 08:17 2025-06-06 UTC+2

Forecast for USD/JPY on June 6, 2025

As of this morning, the USD/JPY pair has found itself in a completely dual situation, with an equal likelihood of both growth and decline. Indicators suggesting growth include the price

Laurie Bailey 08:13 2025-06-06 UTC+2

Trading Signals for EUR/USD for June 6-10, 2025: buy above 1.1080 (200 EMA - 6/8 Murray)

The eagle indicator is showing a negative signal, so we believe that if the euro falls below the 6/8 Murray level in the coming hours, it will be seen

Dimitrios Zappas 07:04 2025-06-06 UTC+2

Trading Signals for GOLD (XAU/USD) for June 6-10, 2025: buy above $3,365 (21 SMA - 7/8 Murray)

On the other hand, gold is expected to undergo a technical correction. On May 30, it left a gap around 3,284, and if it consolidates below 3,350, it could likely

Dimitrios Zappas 07:01 2025-06-06 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.