USDJPY : ROAD TO A NEW HISTORICAL HIGH
- The American Dollar has regained strength against the Japanese Yen since the start of 2024 and the rebound on the long-term trend line. The market is now trading in a bullish channel, registering higher highs and lows, the medium-term trend is therefore bullish.
- In the shorter term, and since the rebound over 146.42, the market has continued to climb towards its last all-time high located just below 152.00.
The 13 and 21 period moving averages are still bullish, supporting prices, while the DMI indicator shows an increasingly directional movement, in an increasingly buying environment.
- This is seen as a clearly bullish situation.
The market is in a well established uptrend, with no selling threat on the horizon. The next targets above the last all-time high at 151.96 are around 152.58, 155.50 then 159.65 by extension.
Pierre Veyret, Technical Analyst at ActivTrades
The information provided does not constitute investment research. The material has no been prepared in accordance with the legal requirements designed to promote the independence of investment research and such is to be considered to be a marketing communication.
All information has been prepared by ActivTrades ("AT"). The information does not contain a record of AT's prices, or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information.
Any material provided does not have regard to the specific investment objective and financial situation of any person who may receive it. Past performance is not reliable indicator of future performance. AT provides an execution-only service. Consequently, any person acing on the information provided does so at their own risk.
- In the shorter term, and since the rebound over 146.42, the market has continued to climb towards its last all-time high located just below 152.00.
The 13 and 21 period moving averages are still bullish, supporting prices, while the DMI indicator shows an increasingly directional movement, in an increasingly buying environment.
- This is seen as a clearly bullish situation.
The market is in a well established uptrend, with no selling threat on the horizon. The next targets above the last all-time high at 151.96 are around 152.58, 155.50 then 159.65 by extension.
Pierre Veyret, Technical Analyst at ActivTrades
The information provided does not constitute investment research. The material has no been prepared in accordance with the legal requirements designed to promote the independence of investment research and such is to be considered to be a marketing communication.
All information has been prepared by ActivTrades ("AT"). The information does not contain a record of AT's prices, or an offer of or solicitation for a transaction in any financial instrument. No representation or warranty is given as to the accuracy or completeness of this information.
Any material provided does not have regard to the specific investment objective and financial situation of any person who may receive it. Past performance is not reliable indicator of future performance. AT provides an execution-only service. Consequently, any person acing on the information provided does so at their own risk.
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