USD/JPY Forecast (Daily) and Trade Signal

Adam Chris21 September 2022 >> Home >> Forex Forecast >> USD/JPY Forecast (Daily) and Trade Signal

USD/JPY Forecast (Daily) and Trade Signal

USDJPY upwards momentum has slowed down during the week. This week’s intraday closings have formed bearish price patterns that may help bears drag the price lower from the recent peak. The intraday support levels are at 143.13 and 142.53. The near-term resistance levels are 144.12 and 144.51.

USD/JPY Technical Analysis (Daily)

USDJPY current price is keeping below MACD (Moving Average Convergence Divergence) Zero line. The Stochastic and Bollinger Bands (BB) have turned from bullish to neutral along with the Relative Strength Index (RSI). The Average True Range (ATR) indicates low volatility, while the USD to JPY Pair’s current price is above the 20, 50 and 100-period moving averages.

Stochastic

Bollinger Bands

ATR

MACD

RSI

Neutral (47)

Neutral (143.80)

 1.38 (Volatility down)

Above Zero line (1.81)

66 (Neutral)

USDJPY Key Support and Resistance Today

S 1

S 2

S 3

R 1

R 2

R 3

143.13

142.53

142.14

144.12

144.51

145.11

USD to JPY Pair is likely to find strong support around 143.00 and bears need to breach below this area to take the price further lower.

Related Article: Dow Jones Mini Forecast (Daily) and Trade Signal

USD/JPY Pivot Points

1 hour

4 hours

Daily

Weekly

Monthly

143.61

143.90

143.52

143.18

136.14

USD/JPY Trading Ranges

USD/JPY Daily Trading Range: 143.34 – 144.08
USDJPY Weekly Trading Range: 142.64 – 144.08
USD/JPY Monthly Trading Range: 138.83 – 144.99
USD/JPY Yearly Trading Range: 113.47 – 144.99

Related Article: GBPUSD Forecast and Trade Signal

USDJPY Trade Signal 21-SEP-2022

USDJPY Currency pair has been rising throughout this year. However, we also have seen modest declines in this period. Currently, the USD to JPY is having a bearish intraday price pattern which is also in line with the FXDatapanel proprietary algorithm. Following the bearish indications, the USDJPY pair is ideal for short entries using the following levels.

USD/JPY Signal Direction: Sell

Signal Timeframe: Daily

Signal Strength Level: Normal

Entry: 144.56

Stop-loss: 145.94

Take Profit: 143.18

USDJPY Upcoming Levels to Watch

The 144.00 is currently acting as a strong support area and only a breach below this area will lead the price towards our today’s target of 143.18. Failing to breach below this level may help bulls to regain control and move higher in the coming days.

Click here to download USDJPY Pair’s complete smart analysis from FXDatapanel.

 

 

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