USD/JPY reached a fresh new high of 106.39 earlier and it seems ready to trade north in the upcoming period after passing above the former high. Today’s rally could be extended if USDX will continue to increase after yesterday’s throwback.

JP225 plunged in the short term and reached a support level. So, a rebound and resuming its growth could force JPY to decline versus its rivals. In conclusion, USD/JPY could increase if the USDX and JP225 will jump higher.

USD/JPY Further Increase Expected!


USD/JPY has retested the R1 (106.11) confirming it as support and now is almost to reach the ascending pitchfork’s median line (ML). Reaching this line signals that the pair could register a valid breakout above confirming a further upside movement.

Today’s false breakdown with great separation below 106.00 psychological level indicates strong buyers in the short term. Technically, USD/JPY’s failure to drop towards the ascending pitchfork’s lower median line (LML) signals a potential breakout through the ML.

Jumping and stabilizing above the median line (ML) could open the door for a larger upside movement.


Buy USD/JPY if it closes above 106.52 today’s high. 107.50 could be used as a first upside target.

The material has been provided by InstaForex Company –

Leave your vote

🚀If you want to get a Forex Robot Coded as per your trading strategy but are unable to do so because of the high price for the Robot then you can take advantage of the CROWD FUNDING campaigns feature. ✔ These are some crowd funding campaigns for Forex Robots, which when completed can provide the very same Forex Robot to the participants at an average price of $5-$10 per participant. ✔ You either participate in one of the already listed campaigns or send us your Forex strategy : Submit Crowd Funding Campaign , for which you would like the Forex Robot to be coded. A Crowd Funding Campaign would then be started for the same . ✔ All you have to do later on is to share the campaign online with your friends to encourage more people to participate in the campaign.

As a result, each participant can get that Forex robot for just a campaign contribution of $5 (which is the minimum). Participants can back the campaign by anything above or equal to $5 to reach the funding goal to close the campaign.