Forex Trading Library

USDJPY 2018-04-02

Technical Analysis

By Rami Abu-Draa Last updated Oct 31, 2021

As we see over our previous chart and as we advised last week

USDJPY managed to retreat from 107.00-30 resistance where market managed to hit 106.12 low last Friday

As long as market keep holding trades below 107.00-30 another drop correction toward 105.25-50 zone will be expected

Above 107.30 more advance may hit the market where another resistance laying at 107.90

	Support	Resistance
Level 1	105.80	107.00-30
Level 2	105.25	107.90
Level 3	104.60	108.50-60

Rami Abu-Draa

Head of Technical Analysis at Orbex, Rami Abu Draa
holds a bachelor's degree in Banking, Finance and Economics. A professional trader and mentor with over 10 years of industry experience, Rami is passionate about sharing his knowledge with Orbex clients from basic to advanced concepts of Technical Analysis, Investment psychology and Investment/Trading methodologies. He is able to combine fundamental and technical principles to deliver a unique perspective on the markets that enables Orbex traders to identify high-probability trading opportunities.

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