Our team has over 7,000,000 traders!
Every day we work together to improve trading. We get high results and move forward.
Recognition by millions of traders all over the world is the best appreciation of our work! You made your choice and we will do everything it takes to meet your expectations!
We are a great team together!
InstaSpot. Proud to work for you!
Actor, UFC 6 tournament champion and a true hero!
The man who made himself. The man that goes our way.
The secret behind Taktarov's success is constant movement towards the goal.
Reveal all the sides of your talent!
Discover, try, fail - but never stop!
InstaSpot. Your success story starts here!
USDJPY dropped towards 135.20 during the Asian session on Wednesday after finding resistance at around 136.36 early this week. Bears need to break below 134.70 to accelerate the fall towards 131.50 as projected on the 4H chart presented. Ideally, prices should stay below interim resistance at around 137.00 to keep the bearish structure intact.
USDJPY has produced a multi-year rally since January 06, 2021, after printing lows at around 102.59 (not seen on the displayed chart). The above rally might be complete at around 137.00 or is close to completion after yet another shallow high close to 137.50. Either way, bears are looking poised to be back in control soon.
USDJPY might have carved a lower-degree downswing between 137.00 and 134.75 in the past few trading sessions. Prices have retraced following the above drop and found potential resistance at around 136.36. If the above structure holds well, prices would stay below 137.00 and reverse sharply towards 131.50 to break below initial support.
USDJPY has broken below the recent trend line support while dropping towards 134.70 as seen here. Furthermore, prices have rallied and tested the backside of the trendline support, which acts as resistance at around 136.16. A potential Head and Shoulder reversal might be unfolding with the right shoulder carved at around 136.16. A break below 134.70 confirms that the price is accelerating its fall.
Potential drop towards 131.50 and lower against 137.50
Good luck!
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
InstaSpot analytical reviews will make you fully aware of market trends! Being an InstaSpot client, you are provided with a large number of free services for efficient trading.
Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.
If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.
Why does your IP address show your location as the USA?
Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaSpot anyway.
We are sorry for any inconvenience caused by this message.
