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Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

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Daily analysis of USD/JPY for May 21, 2018

USD/JPY

The bias on the pair is still bullish. The bullish movement that was witnessed last week has saved the ongoing bullish bias in the market. The bullish movement started in March 2018 and it has held out till now. The supply level at 111.00 was tested before price closed below it on Friday. The JPY may be weakened further this week.

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There is a Bullish Confirmation Pattern in the market, which makes short trades not yet advisable. This week, there is a high probability that the market would continue going upwards, reaching the supply levels at 111.00, 111.50 and 112.00.

The material has been provided by InstaForex Company - www.instaforex.com