Support & Resistance Levels For USD/JPY


Ok, we´re back to the USD/JPY forex pair again. We can´t help it though seeing as the price has risen almost 150 pips over the last two days. Support and resistance levels have risen since the last time we took a look at the levels for this pair.

Let´s see where these levels stand right now, in order to spot the areas where we might open a buy/sell forex signal.

                                                                         

USD/JPY

Resistance                                           Support

1 – 113.85 (mild – the high today)           1 – 113.30-40 (mild – yesterday´s high and 20 SMA on H1 chart)

2 – 114 (medium)                                   2 – 113 (medium – last week´s high and 50 SMA on H1 chart)

3 – 114.50-60 (mild)                               3 – 112.80 (mild 20 SMA on H4 chart)

4 – 115 (strong)                                    4 – 112.20 (strong 50 SMA on H4 chart)

 

 Up and up we go                                                            

These are the closest support & resistance levels for USD/JPY which will support our trades in this pair. Although, as mentioned in the previous update, buying dips is the safer option right now.  

ABOUT THE AUTHOR See More
Skerdian Meta
Lead Analyst
Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.

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