Usdjpy october 26th 2018 analysis
After USDJPY fell to below 112, it reached the top of the uptrend of the fourteenth century, rising above the 111.67 rebound in August. However, USDJPY failed to reach the high of Wednesday at 112.74. Major resistances are in the range of 112.67 and it can be said that the oscillating limited range is from 112.67 and 112 in mid-October. USDJPY’s daily support at 112.11, which is aligned with the support line line, is consistent with 109.77 and 112 levels, still maintaining its position and could set a bullish uptrend.
If USDJPY buyers enter the market, the next resistance will be USDJPY 113.40. However, before entering the USDJPY purchase deal, it’s better to consider the USDJPY weekly chart, which is involved with the 2018 rebound rate of 112.65.
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Price action strategy
Depending on the USDJPY weekly chart, vendors may be expected to enter the market, although vendors are having difficulty passing 112.11 daily support. Based on this, it might be better to use USDJPY’s strategy for unprofitable markets on a four-week chart, entering a USDJPY sale or purchase from either the 112.67 or the floor of 112. However, it is advisable to stay ahead of the purchase or sale before the purchase of the purchase of the Option Signal on the hourly and half-hour charts.