USD/JPY: Testing Resistance and Potential Price Reversal Amidst Oscillator Signals

Russia's Weekend Mutiny and Gold's Bounce off Support Raise Concerns; Verbal Intervention in USD/JPY and US Banking Stocks Tumble Ahead of Fed's Stress Test Results

USD/JPY:

On Monday, the USD/JPY pair tested the resistance level at 140.35 but was pushed down from it, though not by much. This morning, the price is trying to rise, but the signal line of the Marlin oscillator is decreasing, which could eventually lead the price back to 138.57.

 

 

If the dollar manages to find the strength to rise, after surpassing 140.35, the next target will be 142.28, the nearest line of the global price channel. On the four-hour chart, we can see that the target level of 140.35 was reinforced by the MACD line, which resulted in a local price reversal from it.

 

 

If the dollar manages to find the strength to rise, after surpassing 140.35, the next target will be 142.28, the nearest line of the global price channel. On the four-hour chart, we can see that the target level of 140.35 was reinforced by the MACD line, which resulted in a local price reversal from it.

 

Russia's Weekend Mutiny and Gold's Bounce off Support Raise Concerns; Verbal Intervention in USD/JPY and US Banking Stocks Tumble Ahead of Fed's Stress Test Results

InstaForex Analysis

Instant Trading EU Ltd. is the CFD broker operating under the brand instaforex.eu, regulated by CySec with license number 266/15.

Besides CySEC, Instant Trading EU Ltd. is also supervised by the Czech National Bank (CNB), the Slovak National Bank (SNB), and the Polish Financial Supervision Authority (KNF). InstaForex.eu has branches in the Czech Republic, Slovakia, and Poland, where it provides support in local languages. InstaForex.eu is a member of the Investor Compensation Fund (I.C.F) which is an additional security for the client's funds.

InstaForex.eu offers access to around 2,500 instruments (CFDs in Stocks, ETFs, Indices, Commodities, Forex, Cryptocurrencies, US Synthetic Stocks) and the MT4 and MT5 platforms,trading accounts in EUR, USD, PLN, CZK, GBP.

More information at: www.instaforex.eu

Follow InstaForex.eu on:

Twitter Facebook YouTube

 

Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69.82%. of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.