How To Make Money Today: Daily Market Analysis and Forex Trading Signals 6 April 2022

To assist you to make a good day-trading selection, we’ll cover the newest forex market analysis and the trading strategy to use today. Make more money today with our market analysis. You must know how to trade first and have at least a simple understanding of chart patterns. Aside from that, we’ll cover some basic tips and methods that can aid anybody curious in day trading strategies. So let’s start by looking at some charts from today…

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USD/JPY:

On the H4 timeframe, prices are on strong bullish momentum. We see the potential for further bullish momentum  from our 1st support at 123.147 in line with 38.2% Fibonacci retracement towards our 1st resistance at 124.281 in line with 78.6% Fibonacci Projection. Prices are trading above our ichimoku clouds, further supporting our bullish bias.

Areas of consideration:

  • H4 time frame, 1st resistance at 124.281
  • H4 time frame, 1st support at 123.147
usdchf analysis

USD/JPY Price Analysis: Aiming for a six-year high of 125.10 USD/JPY

  • The asset has been unbalanced due to the Darvas box chart structure bursting.
  • The upside is still intact, according to advancing 20 and 50-period EMAs.
  • In a positive range of 60.00-80.00, the RSI (14) has steadied.

After auctioning in a narrow-range box on March 28, the USD/JPY pair has become imbalanced and is reaching its new six-year high of 125.10. On Tuesday, the asset fell down after starting at 122.80, resulting in a bullish open rejection-reverse session. The major, on the other hand, was subjected to heavy bids to around 122.38 as investors opted for a ‘buy the dip’ strategy.

On the hourly scale, the structure shows a stronger breakout of a Darvas box chart pattern, which is depicted in the 121.30-123.00 zone. The Darvas box chart pattern explodes, resulting in increased volumes and volatility.

The 20- and 50-period Exponential Moving Averages (EMAs) at 123.35 and 123.00, respectively, are still scaling higher, indicating that the bullish bias is still in place.

Meanwhile, the Relative Strength Index (RSI) (14) has stabilized into a bullish range of 60.00-80.00, suggesting that additional gains are on the way.

If the round level resistance at 124.00 is broken, the asset will rise to a six-year high of 125.10, followed by a high of 125.86 on June 1, 2015.

The yen bulls, on the other hand, can control the asset if it falls below the 50-EMA at 123.00. This will bring the asset to lows of 121.98 and 121.31 on March 29 and 30, respectively.

USD/JPY

OVERVIEW
Today last price123.83
Today Daily Change0.22
Today Daily Change %0.18
Today daily open123.61
TRENDS
Daily SMA20120.36
Daily SMA50117.27
Daily SMA100115.78
Daily SMA200113.49
LEVELS
Previous Daily High123.67
Previous Daily Low122.38
Previous Weekly High125.1
Previous Weekly Low121.28
Previous Monthly High125.1
Previous Monthly Low114.65
Daily Fibonacci 38.2%123.17
Daily Fibonacci 61.8%122.87
Daily Pivot Point S1122.77
Daily Pivot Point S2121.93
Daily Pivot Point S3121.48
Daily Pivot Point R1124.06
Daily Pivot Point R2124.51
Daily Pivot Point R3125.35

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