News for trading Today we have high-impact news. The high-impact news involving various currencies. We have some low and medium-impact news as well. There will be much volatility in that area and with any pair related to the currencies seen below. Traders should take note of this and make good use of money management skills while trading today. Learn to trade with caution. This is very important in trading the forex market. Take a look at the picture below for more information on the news available to us today.
USDJPY ANALYSIS Yesterday, the USDJPY pair traded in the higher areas and closed the day around 150.55. Today, it has moved in the downward direction towards 150.05 Price level. Taking a look at the hourly chart below, it is noticeable that USDJPY is trading above the moving average line MA (200) H1 at 149.55. We have a similar situation on the four-hour chart as USDJPY is also trading above the moving average line MA (200) H4 for now. On this note, considering the facts above, traders are advised to look for a good buy entry point after the correction. The picture and chart below give better information on this analysis. Kindly take a look at it.
The resistance levels are 150.75, 150.95, and 151.30. The support levels are 149.85, 149.50, and 149.15. What to expect: we could see continuous rise in the price of USDJPY towards the next resistance level at 150.75. Alternatively, we could see a drop below the moving average line MA (200) H4 towards 148.15. That is all for now. What do you think about this analysis? Kindly leave me your thoughts and contributions in the comments section below. Have a great day.
