USD/JPY Intraday: below its lower Bollinger band
Nov 20, 2024 3:34 PM
target 153.61.
Our pivot point is at 156.24.
Our preference:
target 153.61.
Alternative scenario:
the upside breakout of 156.24, would call for 157.05 and 157.54.
Comment:
the RSI is below its neutrality area at 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the price is below its 20 period moving average (155.62) but above its 50 period moving average (155.05). Finally, the USD/JPY has penetrated its lower Bollinger band (155.23).
Supports and resistances:
157.54 **
157.05 *
156.24 **
155.92
155.23 last
154.09
153.61 **
153.12 *
152.64 **
Our preference:
target 153.61.
Alternative scenario:
the upside breakout of 156.24, would call for 157.05 and 157.54.
Comment:
the RSI is below its neutrality area at 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the price is below its 20 period moving average (155.62) but above its 50 period moving average (155.05). Finally, the USD/JPY has penetrated its lower Bollinger band (155.23).
Supports and resistances:
157.54 **
157.05 *
156.24 **
155.92
155.23 last
154.09
153.61 **
153.12 *
152.64 **
Disclaimer: References, analysis and trading strategies are provided by the third-party provider, Trading Central, and the point of view is based on the independent assessment and judgment of the analyst, without considering the investment objectives and financial situation of the investors. All strategic opinions do not constitute investment advice or recommendations and are for references only. Our company also does not guarantee the accuracy of the strategic views and does not take any responsibility for the negative results caused by the trading strategies.
Related Instruments
USD/JPY
154.821
-0.652
-0.42%