USD JPY Technical Analysis 29 April 2021
USD JPY Technical Analysis: The USD declined 0.34% against the JPY on Wednesday and closed at 108.58. Today in the Asian session, while USD JPY technical Analysis 28 December 2020 is preparing at 4:15 GMT, the USD/JPY trading at 108.96, which is 0.33% higher against JPY from yesterday’s close.
The pair is expected to find support at 108.40. And a fall through could take it to the next support level of 108.25 The pair is expected to find its first resistance at 109.07, and a rise through could take it to the next resistance level of 109.25. Today’s expected trading range is between 108.00, support and 109.25 resistance.
The expected trend for today is Bullish
Important support levels:
Support 1: 108.40
Support 2: 108.25
Support 3: 108.00
Important resistance levels:
Resistance 1: 109.07
Resistance 2: 109.25
Resistance 3: 109.50
USD/JPY buying opportunity for intraday trading on April 29, 2021
Buy near the support zones 108.40 and 108.25 as soon as you get a reversal candlestick pattern, using a stop loss 2 points below the low of the reversal candle, and keep the target equal to the stop loss.
USD/JPY selling opportunity for intraday trading on April 29, 2021
Sell near the resistance zones 109.07 and 109.25 as soon as you get a reversal candlestick pattern, using a stop loss 2 points above the high of the reversal candle, and keep the target equal to the stop loss.