Analysis of USD/JPY 9.03.2020

Analysis of USD/JPY 9.03.2020

Written by: PaxForex analytics dept - Monday, 09 March 2020 0 comments

The price is below the moving average of 20 MA and MA 200, indicating the downward trend. 
MACD is below the zero levels.
The oscillator Force Index is below the zero levels.

If the level of support is broken, you shall follow the recommendations below:

  • Timeframe: H4
  • Recommendation: Short Position
  • Entry Level: Short Position 101.50
  • Take Profit Level: 100.00 (150 pips)

If the price rebound from a support level, you shall follow the recommendations below:

  • Timeframe: H4
  • Recommendation: Long Position
  • Entry Level: Long Position 104.50
  • Take Profit Level: 105.00 (50 pips)


GOLD
A possible long position at the breakout of the level 1703.00

USDCHF
A possible short position in the breakdown of the level 0.9180

EURUSD
A possible long position at the breakout of the level 1.1500

GBPUSD
A possible long position at the breakout of the level 1.3200