The legend in the InstaSpot team!
Legend! You think that's bombastic rhetoric? But how should we call a man, who became the first Asian to win the junior world chess championship at 18 and who became the first Indian Grandmaster at 19? That was the start of a hard path to the World Champion title for Viswanathan Anand, the man who became a part of history of chess forever. Now one more legend in the InstaSpot team!
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USDJPY is now trading at an important short-term support area. In this area we find both horizontal support and a trend line support coming from 103. USDJPY bulls need to hold price above 108.50. Failure to do so bears will take control of the short-term trend and will most probably push price towards 106.
Green rectangle - support
Red line- support
USDJPY has resistance at the recent double top at 109.70. Bulls need to defend 108.50 and provide fuel to push price above the 109.70 resistance in order to be in full control of the trend. Otherwise, USDJPY is vulnerable to breaking support and falling towards 106. At current levels risk reward favors bulls as price is very close to support. However the momentum is negative and this is not in their favor. It is preferred to stay neutral and if price starts to bounce from 108.50-108.70 then bulls can step in. If price breaks support then we should expect an accelleration to the downside.
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।
