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!
Borussia is one of the most titled football clubs in Germany, which has repeatedly proved to fans: the spirit of competition and leadership will certainly lead to success. Trade in the same way that sports professionals play the game: confidently and actively. Keep a "pass" from Borussia FC and be in the lead with InstaSpot!
Early in the American session, the Japanese yen is trading around 136.71, above the 21 SMA, and above the 200 EMA. According to the 1-hour chart, we can see that the yen is stuck within an uptrend channel formed since February 21.
On February 28, the Japanese Yen reached 136.91 and made a strong technical connection from that level. USD/JPY is currently trading near this level. In case it fails to break this resistance, we could expect a technical correction so that the price could reach the area of 136.32 (21 SMA).
If bearish pressure prevails and USD/JPY falls below 136.30 (21 SMA), it will be a clear signal to sell with targets at the bottom of the uptrend channel that coincides with the 200 EMA around 135.44.
A sharp break above 137.00 and consolidation above this level could accelerate the bullish momentum and we could wait for the Japanese Yen to reach the 8/8 Murray zone located at 137.50.
Conversely, as long as the instrument trades below the February 28 high at 136.91, the Yen is expected to make a technical correction and it could reach the 135.44 area.
Any correction towards the 7/8 Murray zone or the 21 SMA could be seen as a buying opportunity as the eagle indicator is showing a positive signal.
*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।
