empty
16.10.2023 10:42 AM
USD/JPY analysis for October 16, 2023 - Key pivot on the test

Technical analysis:

This image is no longer relevant

USD/JPY has been trading sideways at the price of 149.50 and there is potential for the breakout play.

In case of the breakout of the resistance level 149.65 and hold above, I see potential for the further rally towards 149.90 and 150.20

In case of the downside breakout of the support level at 149.37 and hold below, there is the chance for the drop towards 149.00

RSI oscillator is in the neutral position around 50 level, which is another confirmation fo the neutral market.

Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
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

Recommended Stories

Forex forecast 06/05/2025: EUR/USD, GBP/USD, Gold, Oil, SP500, NASDAQ and Bitcoin

Useful links: My other articles are available in this section InstaForex course for beginners Popular Analytics Open trading account Important: The begginers in forex trading need to be very careful

Sebastian Seliga 11:16 2025-05-06 UTC+2

EUR/USD. May 6th. Bears Did All They Could

On Monday, the EUR/USD pair made a new reversal in favor of the U.S. dollar, but this time the decline was even weaker. For most of last week, bears launched

Samir Klishi 10:30 2025-05-06 UTC+2

GBP/USD. May 6th. China Got What It Deserved

On the hourly chart, the GBP/USD pair continued to trade sideways on Monday. The sideways movement began last week when a series of important reports were released in the U.S

Samir Klishi 10:25 2025-05-06 UTC+2

Technical Analysis of Intraday Price Movement of GBP/AUD Cross Currency Pairs, Tuesday May 06, 2025.

On the 4-hour chart, the GBP/AUD cross currency pair appears to still be dominated by Sellers, which is confirmed by its price movement which is moving below the WMA (30

Arief Makmur 10:17 2025-05-06 UTC+2

Technical Analysis of Intraday Price Movement Crude Oil Commodity Instrument, Tuesday May 06, 2025.

With the price movement forming Higher Low - Lower Low and supported by the decreasing slope of WMA (30 Shift 2) and the movement of Crude Oil prices moving below

Arief Makmur 10:16 2025-05-06 UTC+2

Trading Signals for EUR/USD for May 5-8, 2025: sell below 1.1370 (200 EMA - 6/8 Murray)

Early in the American session, the EUR/USD pair is trading around 1.1345, reaching the top of the downtrend channel and showing signs of exhaustion. The euro could resume its bearish

Dimitrios Zappas 17:34 2025-05-05 UTC+2

Trading Signals for GOLD (XAU/USD) for May 5-8, 2025: buy above $3,305 (21 SMA - 7/8 Murray)

On the other hand, a weakness in the metal below the 21SMA at 3,280 could resume the bearish cycle. So, we could expect gold to reach the bottom

Dimitrios Zappas 17:31 2025-05-05 UTC+2

EUR/USD. Fed Meeting Results May Lead the Pair to a Decline

The pair is consolidating in a narrow range below the resistance level of 1.1345 in anticipation of the outcome of the Fed's monetary policy meeting, which will conclude on Wednesday

Pati Gani 10:59 2025-05-05 UTC+2

EUR/USD – May 5th: The U.S. Labor Market Is Not Hopeless

On Friday, the EUR/USD pair rose to the level of 1.1374, bounced off, and reversed in favor of the U.S. dollar. The bears attacked again, but only briefly, and overall

Samir Klishi 10:57 2025-05-05 UTC+2

GBP/USD – May 5: Trump May Lift Tariffs on China

On the hourly chart, the GBP/USD pair continued its decline on Friday toward the 161.8% Fibonacci correction level at 1.3249. A rebound from this level will favor the British pound

Samir Klishi 10:51 2025-05-05 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

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?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

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 InstaForex anyway.

We are sorry for any inconvenience caused by this message.