empty
23.02.2024 06:05 AM
USD/JPY H4 | Bullish Rise

This image is no longer relevant

The USD/JPY, the potential bullish bounce scenario is as follows:

Support Levels:

The 1st support level is identified at 150.44, attributed to "An Overlap support." This level indicates a historical area where price has previously found support, suggesting potential buying interest.

The 2nd support level is situated at 149.82, noted as "Multi-swing low support." This level signifies a confluence of multiple swing lows, reinforcing its significance as a support level.

Resistance Levels:

The 1st resistance level is observed at 150.78, designated as "Swing high resistance." This level represents a historical barrier where price has previously reversed its upward movement, potentially acting as a resistance point.

The 2nd resistance level is positioned at 151.35, recognized as "Multi-swing high resistance." This level indicates a significant historical resistance point where multiple swing highs have formed, suggesting potential strong selling interest.

Dean Leo,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

Trading Signals for EUR/USD for May 16-19, 2025: sell below 1.1230 (200 EMA - 6/8 Murray)

Early in the American session, the EUR/USD pair is trading around 1.1178, below the 200 EMA, and below the 21 SMA under bearish pressure. Having reached the 1.1270 area

Dimitrios Zappas 17:04 2025-05-16 UTC+2

Trading Signals for GOLD for May 16-19, 2025: sell below $3,211 -3,226 (200 EMA - 21 SMA)

The Eagle indicator is reaching oversold levels, so we believe that any pullback, as long as the gold price remains above the 4/8 Murray level, will be seen

Dimitrios Zappas 17:02 2025-05-16 UTC+2

USD/CAD. Analysis and Forecast

As of Friday, the USD/CAD pair is under pressure for the second consecutive day, driven by a combination of negative factors. Yesterday's weaker-than-expected U.S. macroeconomic data reinforced market expectations

Irina Yanina 11:28 2025-05-16 UTC+2

Forex forecast 16/05/2025: EUR/USD, USD/JPY, USD/CAD, Gold, Oil and Bitcoin

Useful links: My other articles are available in this section InstaForex course for beginners Popular Analytics Open trading account Important: The begginers in forex trading need to be very careful

Sebastian Seliga 11:08 2025-05-16 UTC+2

US Dollar Index (DXY). Analysis and Forecast

The U.S. Dollar Index, which tracks the performance of the U.S. dollar against a basket of major currencies, continues to trade with a bearish bias for the second consecutive

Irina Yanina 10:56 2025-05-16 UTC+2

EUR/USD. May 16th. A Challenging Path for the Dollar

On Thursday, the EUR/USD pair twice declined toward the 127.2% Fibonacci level at 1.1181 and bounced off it both times, signaling a reversal in favor of the euro. This opens

Samir Klishi 10:21 2025-05-16 UTC+2

Forecast for GBP/USD on May 16, 2025

On the hourly chart, the GBP/USD pair on Thursday reversed once again in favor of the British pound and began a renewed move toward the resistance zone of 1.3344–1.3357

Samir Klishi 10:13 2025-05-16 UTC+2

EUR/USD Forecast for May 16, 2025

In yesterday's calm market, despite the release of various economic data from Europe and the U.S., the euro still managed to gain 13 pips. At the very least, this confirmed

Laurie Bailey 05:21 2025-05-16 UTC+2

GBP/USD Forecast for May 16, 2025

On Thursday, the UK released strong GDP data but failed to spark noticeable activity in the currency market, as the growth came solely from the services sector

Laurie Bailey 05:21 2025-05-16 UTC+2

USD/JPY Forecast for May 16, 2025

Friday may mark the fourth consecutive day of a bearish (black) daily candle. The last time this pattern occurred was from February 3–6. In that instance—and the two previous occurrences—a

Laurie Bailey 05:07 2025-05-16 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.