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The new week and the upward trend of USD/JPY: find trading scenarios on the NPBFX analytical portal
Good afternoon, dear forum visitors!
The new trading week started with news about the US dollar decline against the Japanese yen during the Asian session but now we can see an upward trend. The analytical review of the current situation on the USD/JPY pair is already available on the NPBFX analytical portal. Analytics on the online portal is regularly released every trading day that enables traders to react more efficiently to changes within the selected trading strategies.
So, the upward trend of USD/JPY is strong. Assumingly, an upward impulse in wave A of ( B ) continues forming by wave analysis. Locally, the fifth wave v of A seems to be developing, within which a downward correction (iv) has finished. If the assumption is correct, pair’s growth will continue towards the level of 119.60. Critical for this scenario is the level of 116.45, a breakdown of which would lead to a fall continuation.
Trading scenarios for the USD/JPY pair:
The main scenario is to buy the pair above the level of 116.45 with the aim of 119.60. Alternative scenario is that the breakdown of prices and consolidation below 116.45 will allow the pair to continue to decline to around 114.74.
Also you can read more detailed scenarios for the USD/JPY with the graphs or view analytics on the other trading instruments on the NPBFX analytical portal. An access to the online portal is free and unlimited for all registered users on the NPBFX website.
You can start trading USD/JPY in NPBFX on favorable terms on any type of trading account. The average spread for the pair is only 1.3, 1.1 and 0.9 pips for Master, Expert and VIP accounts respectively.
Read the latest analytics on USD/JPY on the online portal and trade efficiently with NPBFX.