USD/JPY Market Analysis and Trading Signals (7 Sept 2023)

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:

Currently, the USD/JPY graph leans towards a bullish stance, hinting at a possible rise in its price trajectory.

There’s an inclination for continued bullish activity up to the primary resistance point at 148.76.

The main support set at 146.50 is labeled as a retracement support. Additionally, the subsequent support at 144.82 is viewed as an overlapping support. Both supports could serve as platforms for potential upward price shifts.

The primary resistance located at 148.76 is characterized by its role as swing high resistance, coupled with its association with the 161.80% Fibonacci Extension, which further accentuates its importance as a likely upward obstacle. Moreover, another support point at 147.24 has been observed.

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