- Analytics
- News and Tools
- Market News
- USD/JPY Price Analysis: Bulls meeting tough resistance from bears despite bull flag
USD/JPY Price Analysis: Bulls meeting tough resistance from bears despite bull flag
- It is make or break time for USD/JPY at this juncture.
- The price is meeting resistance despite the bullish flag.
USD/JPY is meeting an area of resistance on the hourly chart and has struggled to make a clean break out from the daily bull flag. Instead, the bears are targeting the W-formation's neckline and a break thereof will open the risk of a significant correction for the foreseeable future. The following illustrates this on a daily and weekly chart.
USD/JPY weekly chart
The price has made nine consecutive bullish weekly closes and a doji left on this week's candle could be the signal to the bears to keep the pressure on. A correction to the 38.2% Fibonacci level requires a break of the psychological 125 figure.
USD/JPY daily chart
The series of bullish flag patterns is a compelling feature on the chart but the price's breakout is not convincing at this juncture. Instead, the bears are putting up resistance and on closer inspection, the W-formation may be playing a role in the inability to breakout:
© 2000-2025. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
