USD/JPY has decreased after reaching a new high. It stands below the minor downtrend line signaling that the bias is still bearish in the short term.

Still, as you can see on the H4 chart, USD/JPY is trading above a major uptrend line, so the downside movement could end if the rate reaches uptrend support. Also, jumping and stabilizing above the downtrend line without reaching the uptrend line could signal that the pair will start increasing again.

Trading Conclusion!

Staying above the uptrend line and jumping above the minor downtrend line could signal a new swing higher. This scenario could bring a new buying opportunity.

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.