Weekly Outlook 31st December - 4th Jan - USD/JPY

FX:USDJPY   U.S. Dollar / Japanese Yen
Having a look a the bigger picture on the 4hr and daily I have closed the Long Trade I had.

Looking at the Daily there potentially is a further drop of around 50 pips before we could see price rally up.

When price last tested the 109.800 level price had a larger 475 pip move to the upside. This zone was rejected instantly the first time it was tested and due to this it does offer the best area to get long.

I have highlighted the 112.200 level as a first target as this is where price could see some resistance. On the 4hr you will see that there was some sideways movement before the drop from this area.

I will set an order 5 pips before the the zone and stops will be 5 pips after.


Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out