Baxia Markets
October 12, 2021

USDJPY: Is it time to return?

technical analysis top header -01


The price broke out the Bollinger Bands on Oct 8th. Since then, the price had not returned to enter the Bollinger Bands; until recently, the price seemed to meet resistance around 113.344. Previously the upward trend was drastic. Although this kind of movement always makes big fluctuations, the extreme high or low level cannot last long; it is unstable.




The Stochastics and RSI have already entered the overbought level since the beginning of the breakout, which means the high point is very delicate now; the crash may take place at anytime. The Ichimoku cloud is moving up; however, it also becomes thinner. Now, the price line returned back to inner Bollinger Bands; the Bull's power also went mild a little, which means the support power is getting weaker.


We love to hear new ideas from traders and want to know what you think! 


If you like this topic and want to suggest future topics that you find helpful, let us know by clicking the ‘submit your feedback’ button below.


Open Live Account  


Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. 


Nothing contained in this website should be construed as investment advice. Any reference to an investment's past or potential performance is not, and should not be construed as, a recommendation or as a guarantee of any specific outcome or profit. 

Subscribe by Email