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Trader, analyst and instructor with a 6-year experience

USD/JPY: Murray levels analysis

D1. Pair ducked under CTD1, but given the fact that it has recently easily breached it up, we should expect another breakthrough of CTD1. The level 5/8 (101.56) is not playing the key role right now, so the breaks of it are often false. In general, the situation in this TF is still uncertain because of the prolonged flat.

H4. After the rebound from the bottom of the channel - level 3/8 (101.17) - the logical target is at 5/8 (101.95). And while CTD1 and CTH4 and not crossed, growth will be limited by 5/8 with a high probability that the pair will go down again. Only fixation above 5/8 will allow talking about further growth.

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