USD/JPY has stabilised to form what could be the making of a W-Bottom pattern. A break of 109.10 opens the Bollinger band W-Bottom break up point. Bulls can target the 21-D SMA at 109.76. Should 108.60 give out, the trend stays bearish and opens the 100-D SMA/50-D SMA convergence at 108.20. USD/JPY 1-hr chart Spot rate: 108.73 Relative change: -0.63% High: 109.44 Low: 109.29 Trend: Bearish Support 1: 108.55/60 BB and PP support. Support 2: 108.18 PP 1M, 100-D SMA meets 50-D SMA. Support 3: 106.82 S1 1M Resistance 1: 109.10 BB WB break up point. Resistance 2: 109.76/92 21-D SMA / PP-1W Resistance 3: 110.89 R1-1W 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 GBP/USD: continue to target a drop to the 1.31 area – Scotiabank FX Street 5 years USD/JPY has stabilised to form what could be the making of a W-Bottom pattern. A break of 109.10 opens the Bollinger band W-Bottom break up point. Bulls can target the 21-D SMA at 109.76. Should 108.60 give out, the trend stays bearish and opens the 100-D SMA/50-D SMA convergence at 108.20. USD/JPY 1-hr chart Spot rate: 108.73 Relative change: -0.63% High: 109.44 Low: … 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.
