empty
 
 
18.06.2018 09:00 AM
Technical analysis on USD/JPY for June 18, 2018

The USD/JPY pair is trading in a bullish trend. Price has been making higher highs and higher lows since the end of May at the 108.10 level. The last higher high was made by USD/JPY at 110.91, however, it was a non-confirmed high by the RSI which is diverging.

This image is no longer relevant

Blue lines- bullish channel

The USD/JPY pair has support at 110.20 and next at the 109.70-109.40 area by the Ichimoku cloud. Resistance is at 111. The USD/JPY pair is in a bullish trend as long as the price is inside the blue upward sloping channel and will give us a reversal signal, once the channel is broken. Trend will change to bearish only in the case of a break below 109.40.

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $9000 more!
    In May we raffle $9000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback