Forex Trading Library

USD/JPY – 01.11.2024

Technical Analysis
By Rami Abu-Draa
USD/JPY – 01.11.2024
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USDJPY dropped as prices still hold above the support zone of 151.40-50.

If the market holds above this support zone, the advance wave could sustain toward 153.60 and 155.20.

Below 151.40 more of a drop toward 149.00 will be expected.

 

SUPPORT RESISTANCE
LEVEL1 151.40-50 153.60
LEVEL2 150.40 155.20
LEVEL3 149.00 157.85

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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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