USD/JPY Forex Analysis and Forex Signal

USD/JPY is currently in a consolidation period on the D1 timeframe.

Technical Analysis

Technicals from our free live trading charts show that indicators are showing mixed signals on the D1 timeframe (hence consolidation).

What others are predicting

We see 2 different traders’ analysis on the free live trading charts, that show:

Price formed a Double Bottom or visiting a previous Support zone . Expecting for price to sky rocket to the 50% zone of the Fib level, creating a third touch on the downward top Trend Line .
NEW LOW if break 109.20 – to 108.75 first

Here are my thoughts!

If price breaks and holds above 109.75503, then we will have a nice entry for a long position.

If price breaks and holds below 109.006627, then we will have a nice entry for a short position.

Our target range for the long position is: 110.431006 – 111.143195

Our target range for the short position is: 108.454107 – 107.896095

Cheers to another successful week!

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