empty
 
 
pt
Suporte
Abertura instanânea da conta
Plataforma de negociação
Depósito/Retirada

29.02.202407:16 Forex Analysis & Reviews: Forecast for USD/JPY on February 29, 2024

USD/JPY

Wednesday became another day when the price could not overcome the support at 150.79. But today, unlike previous days, the quote broke out of the rising wedge on the daily chart and moved downwards. Simultaneously, the Marlin oscillator left the uptrend territory.

Exchange Rates 29.02.2024 analysis

The synchronous signal strengthens the downward direction. We expect the price to reach the support at 149.72. Overcoming this level opens up the second target at 148.82. If the market, amidst the downward movement, provides a false signal, it will not be able to develop growth before consolidating above 150.79, which will take two to three days, and we cannot overlook such a reversal.

Exchange Rates 29.02.2024 analysis

On the 4-hour chart, the price moves away from the resistance (150.79) and the MACD line by moving downward. The quote has overcome the balance line, indicating increased bearish interest. Marlin crossed the border of the downtrend. The pair is following a downward movement in the short-term. We're waiting for the pair to overcome the first target level.

*A análise de mercado aqui postada destina-se a aumentar o seu conhecimento, mas não dar instruções para fazer uma negociação.

Laurie Bailey,
Analytical expert of InstaSpot
© 2007-2024
Benefit from analysts’ recommendations right now
Top up trading account
Open trading account

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.

Não pode falar agora?
Faça sua pergunta no chat.