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USDJPY analysis (14/08/18)

This morning, the USDJPY pair passed the 111.00 mark for the first time this week. This is reflected on the hourly timeframe (H1) by a breakout attempt of the downwards channel:

If the USDJPY pair manages to pull this off in the coming hours, there’s an increased likelihood of the uptrend resuming on the H4 timeframe. This will mean a return to the confines of the upwards channel on H4 shown here:

At the time of writing, the USDJPY pair is trading at 111.07.

14 August, 14:34 (GMT+3)
Daily analytical report (14/08/18)


Forecasts which are made in the review constitute the personal view of the author. Commentaries made do not constitute trade recommendations or guidance for working on financial markets. Alpari bears no responsibility whatsoever for any possible losses (or other forms of damage), whether direct or indirect, which may occur in case of using material published in the review.

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