USD/JPY Intraday: look for a drop towards 140.46 before a bounce
Sep 18, 2024 7:27 PM
look for a drop towards 140.46 before a bounce.
Our pivot point stands at 140.46.
Our preference:
look for a drop towards 140.46 before a bounce.
Alternative scenario:
the downside breakout of 140.46 would call for 139.61 and 139.10.
Comment:
the RSI is above 50. The MACD is negative and below its signal line. The penetration of 50 on the RSI would call for further downside. Moreover, the price is above its 20 and 50 period moving average (respectively at 141.75 and 141.78).
Supports and resistances:
144.87 **
144.36 *
143.85 **
143.34
142.06 last
140.79
140.46 **
139.61 *
139.10 **
Our preference:
look for a drop towards 140.46 before a bounce.
Alternative scenario:
the downside breakout of 140.46 would call for 139.61 and 139.10.
Comment:
the RSI is above 50. The MACD is negative and below its signal line. The penetration of 50 on the RSI would call for further downside. Moreover, the price is above its 20 and 50 period moving average (respectively at 141.75 and 141.78).
Supports and resistances:
144.87 **
144.36 *
143.85 **
143.34
142.06 last
140.79
140.46 **
139.61 *
139.10 **
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