USDJPY may be forming a cycle bottom at 79.63 on 4-hour chart. Another rise to test the resistance of the downward price channel would likely be seen, a clear break above the upper line of the channel will signal completion of the downtrend from 84.17 (Mar 15 high), then the following upward movement could bring price back to 83.00 zone. However, as long as the channel resistance holds, the rise from 79.63 is treated as consolidation of the downtrend, and one more fall to 79.00 is still possible.
Disclaimer: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. Any opinions, news, research, analyses, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice. Forex Capital Markets LLC. will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
English
Español
Français
中文
Deutsch
Italiano
العربية
Sverige
Ελληνικά
Go to Profile
Mark as Read
