USD JPY Technical Analysis 16 April 2020

USD JPY Technical Analysis: The USD rose 0.20% against the JPY on Wednesday and closed at 107.42. Today in the Asian session while USD JPY technical Analysis 16 April 2020 is preparing at 6:45 GMT, the USD/JPY trading at 107.84, which is 0.39% higher against JPY from yesterday’s close.

The pair is expected to find support at 106.95. And a fall through could take it to the next support level of 106.46. The pair is expected to find its first resistance at 107.88, and a rise through could take it to the next resistance level of 108.35. For today the expected trading range is between 106.95, Support and 108.35 Resistance.

The expected trend for today is Bullish

Supports Levels: Support 1: 106.95, Support 2: 106.46, Support 3: 106.00
Resistance Levels: Resistance 1: 107.88, Resistance 2: 108.35, Resistance 3: 108.83

USD/JPY Buying Opportunity for Intraday Trading 16 April 2020

Buy near the support area 106.95 and 106.46 as soon as you get reversal candlesticks patterns using stop loss 2 pips below the low of reversal candlestick & keep target equal to stop loss.

USD/JPY Selling Opportunity for Intraday Trading 16 April 2020

Sell near the resistance area 107.88 and 108.35 as soon as you get reversal candlesticks patterns using stop loss 2 pips above the high of reversal candlestick & keep target equal to stop loss.

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