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 (USD/JPY) is trading around 136.18 above the 21 SMA and above the 200 EMA. We can see strong weakness in JPY and it is likely to continue in the coming days.
The strong technical bounce from the low of 135.53 seen in the European session is a positive sign. We could wait for a technical correction to continue pushing the price higher so that we could buy. USD/JPY could reach the high of March 2 at 137.09
The weakness of the Japanese Yen is supported by markets believing that the US Central Bank will maintain its hawkish stance and keep rates at elevated levels for longer. Such prospects are bearish for the Japanese yen and it could reach the psychological level of 140.00.
According to the 1-hour chart, we can see the formation of a symmetrical triangle, indicating that the USD/JPY pair broke in the European session. This pattern could give us a clear signal to buy if the instrument trades above 135.77.
In the next few hours, a technical correction is expected towards the area of 7/8 Murray located at 135.93, or in case the correction continues, we could expect the price to fall towards 135.77 (200 EMA). Both levels could offer us an opportunity to buy with targets at 136.65 and at 137.05.
On March 6, the eagle indicator reached the extremely oversold zone around 5 points and has been giving a positive signal ever since. USD/JPY is expected to continue to rise in the coming hours and any technical correction will be seen as an opportunity to buy.
*这里的市场分析是为了增加您对市场的了解，而不是给出交易的指示。
InstaSpot分析评论将让您充分了解市场趋势！ 作为InstaSpot的客户，您将获得大量的免费服务以实现有效的交易。
