USD JPY Technical Analysis 5 May 2020
USD JPY Technical Analysis: The USD declined 0.14% against the JPY on Monday and closed at 106.70. Today in the European session while USD JPY technical Analysis 4 May 2020 is preparing at 6:45 GMT, the USD/JPY trading at 106.85, which is 0.14% higher against JPY from yesterday’s close.
The pair is expected to find support at 106.54. And a fall through could take it to the next support level of 106.36. The pair is expected to find its first resistance at 106.97, and a rise through could take it to the next resistance level of 107.23. For today the expected trading range is between 106.10, Support and 107.40 Resistance.
The expected trend for today is Bearish
Supports Levels: Support 1: 106.54, Support 2: 106.36, Support 3: 106.10
Resistance Levels: Resistance 1: 106.97, Resistance 2: 107.23, Resistance 3: 107.40
USD/JPY Buying Opportunity for Intraday Trading 5 May 2020
Buy near the support area 106.54 and 106.36 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 5 May 2020
Sell near the resistance area 106.97 and 107.23 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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