Forex Trading Library

USDJPY 2018-07-26

By Rami Abu-Draa Last updated Oct 31, 2021

As we advised early this week on Monday report

USDJPY managed to head for fast drop movement as market kept trades below 113.30-70 which this drop was driven by Donald Trump tweet about rate hike

Market managed to test support uptrend line around 110.50-60 which if managed to hold the market another advance wave may be on play where resistance still at 113.30-70 zone

Below 110.50 Market may risk for farther drop movement toward 108.50-109.00 zone

	Support	Resistance
Level 1	110.50-60	111.50
Level 2	110.20	112.05
Level 3	109.00	113.30

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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