USD/JPY has dropped 0.25% on Thursday as the dollar struggles today. There are some good support levels below the current price level of 107.25. USD/JPY 1-hour chart USD/JPY has been dropping steadily throughout the session and broke the previous wave low of 107.24. This makes a new lower low lower high formation on the hourly chart after the previous wave low was a resolute support zone. The key feature on the chart is the Fibonacci confluence zone at the 61.8% retracement and 161.8% extension zone. If the price continues to move lower it would be a good level to watch out for. The JPY pairs often respect the Fibonacci numbers well and the aforementioned level looks strong. Looking at the indicators, the Relative Strength Index is looking very bearish. The indicators is below the oversold zone and this means there could be a small retracement before the price continues south. The MACD histogram is also red and the signal lines are below the zero point compounding the bearish signals. On the higher timeframes, the price has been in a painful sideways range. Let’s hope the market shakes up a bit and some trends start developing. Additional levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Gold Price Analysis: Will it be a smooth journey to the all time high? FX Street 3 years USD/JPY has dropped 0.25% on Thursday as the dollar struggles today. There are some good support levels below the current price level of 107.25. USD/JPY 1-hour chart USD/JPY has been dropping steadily throughout the session and broke the previous wave low of 107.24. This makes a new lower low lower high formation on the hourly chart after the previous wave low was a resolute support zone. The key feature on the chart is the Fibonacci confluence zone at the 61.8% retracement and 161.8% extension zone. If the price continues to move lower it would be a good level to watch out… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
