USD JPY Technical Analysis 21 May 2020
USD JPY Technical Analysis: The USD declined 0.16% against the JPY on Wednesday and closed at 107.51. Today in the European session while USD JPY technical Analysis 21 May 2020 is preparing at 6:45 GMT, the USD/JPY trading at 107.71, which is 0.20% higher against JPY from yesterday’s close.
The pair is expected to find support at 107.25. And a fall through could take it to the next support level of 106.95. The pair is expected to find its first resistance at 107.90, and a rise through could take it to the next resistance level of 108.25. For today the expected trading range is between 106.95, Support and 108.25 Resistance.
The expected trend for today is Bullish
Supports Levels: Support 1: 107.25, Support 2: 106.95, Support 3: 106.60
Resistance Levels: Resistance 1: 107.90, Resistance 2: 108.25, Resistance 3: 108.55
USD/JPY Buying Opportunity for Intraday Trading 21 May 2020
Buy near the support area 107.25 and 106.95 as soon as you get reversal candlesticks patterns using stop loss 2 pips below the low of reversal candlestick & keep target equal to stop loss.
USD/JPY Selling Opportunity for Intraday Trading 21 May 2020
Sell near the resistance area 107.90 and 108.25 as soon as you get reversal candlesticks patterns using stop loss 2 pips above the high of reversal candlestick & keep target equal to stop loss.