SLO @ 144.05 ⏳
SSO @ 138.33 ⏳
TP1 @ 134.00 (shaving 25%)
TP2 @ 125.50 (shaving 25%)
TP3 @ 119.25 (shaving 25%)
TP4 @ 110.75 (shaving 25%)
TP5 @ 103.85 (shaving 25%)
BSO @ 101.66 ⏳
BLO @ 99.66 ⏳
ADDITIONAL INFO:
TP1 @ 134.00, before Pivot Low
TP2 @ 125.50, at Mid-Pivot
TP3 @ 119.25, at Major Support
TP4 @ 110.75, above Upper Demand
TP5 @ 103.85, above Lower Demand
BSO @ 101.66, after Price Action drops below
TECHNICAL ANALYSIS:
As of June 1, 2023, the USDJPY is trading around 139.80.
The RSI is overbought, which indicates that the market is due for a correction. The MACD is also starting to turn down, which could be another sign that the trend is about to change.
⚠️Be mindful that the moving averages are all sloping upwards, which is a bullish sign.
Overall, the technical analysis for the USDJPY is mixed. There are some bullish signs, however the bearish signs seem to be forging ahead. Traders should be cautious and wait for a clear downtrend to emerge before taking any short trades.
Here are some of the key levels to watch for:
* SUPPORT: 139.45
⚠️ For a more aggressive approach, you can place a Market Order to Sell once price opens and closes below Support
* RESISTANCE: 140.65
⚠️ For a more aggressive approach, you can place a Market Order to Buy once price opens and closes above Resistance
If the price breaks below the support level, it could signal a change in trend to the downside. If the price breaks above the resistance level, it could signal a continuation of the bullish trend.
Here are some of the factors that could affect the USDJPY in the near future:
* The US Federal Reserve's interest rate decision on June 15.
* The Japanese government's economic data releases.
Traders should keep an eye on these factors and adjust their positions accordingly.
SSO @ 138.33 ⏳
TP1 @ 134.00 (shaving 25%)
TP2 @ 125.50 (shaving 25%)
TP3 @ 119.25 (shaving 25%)
TP4 @ 110.75 (shaving 25%)
TP5 @ 103.85 (shaving 25%)
BSO @ 101.66 ⏳
BLO @ 99.66 ⏳
ADDITIONAL INFO:
TP1 @ 134.00, before Pivot Low
TP2 @ 125.50, at Mid-Pivot
TP3 @ 119.25, at Major Support
TP4 @ 110.75, above Upper Demand
TP5 @ 103.85, above Lower Demand
BSO @ 101.66, after Price Action drops below
TECHNICAL ANALYSIS:
As of June 1, 2023, the USDJPY is trading around 139.80.
The RSI is overbought, which indicates that the market is due for a correction. The MACD is also starting to turn down, which could be another sign that the trend is about to change.
⚠️Be mindful that the moving averages are all sloping upwards, which is a bullish sign.
Overall, the technical analysis for the USDJPY is mixed. There are some bullish signs, however the bearish signs seem to be forging ahead. Traders should be cautious and wait for a clear downtrend to emerge before taking any short trades.
Here are some of the key levels to watch for:
* SUPPORT: 139.45
⚠️ For a more aggressive approach, you can place a Market Order to Sell once price opens and closes below Support
* RESISTANCE: 140.65
⚠️ For a more aggressive approach, you can place a Market Order to Buy once price opens and closes above Resistance
If the price breaks below the support level, it could signal a change in trend to the downside. If the price breaks above the resistance level, it could signal a continuation of the bullish trend.
Here are some of the factors that could affect the USDJPY in the near future:
* The US Federal Reserve's interest rate decision on June 15.
* The Japanese government's economic data releases.
Traders should keep an eye on these factors and adjust their positions accordingly.
Professor C. E. Ward
