USDJPY november 22th 2018 technical analysis
Yesterday demand for security assets, such as the Japanese yen, fell, and US stock indices continued to support USDJPY. Although the USDJPY weekly chart can support the 2018 rebound rate at 112.65 and reach the weekly supply range of 115.50-113.85, the 4-hour resistance range is seen at 113.41-1.13.15. This 4-degree range is consistent with the resistance line drawn from the peak of 114.23. On the USDJPY daily chart, support for 112.11 and resistance 114.45 are key and important levels to be addressed.
Price action strategy
Given the strong resistance zone above 113, entering a USDJPY purchase can be risky. That’s why it’s better to focus today on the two yellow limits of the 4-hour chart for the USDJPY deal.
The four-hour 112.67 support, which is matched to the support line, is consistent with the floor of 111.95, and the foursquare resistance of 113.25-1.13.41, which is plotted with the resistance line, is consistent with the peak of 114.32. Both of these ranges can make good jumps to USDJPY.