Ready to Start Trading?

Open a Live or Demo account online in just a few minutes and start trading on Forex and other markets.

Apply online

Any Questions?
Contact us:

phone: +1 849 9370815

email: sales@tradersway.com

Join Us in Just 1 Minute!

MT4
MT5 Terminal

USD/JPY Channel Breakdown (October 1, 2013)

USD/JPY has been trading inside a rising channel for quite some time but the range broke earlier this week. This suggests that a downtrend might be in the works, possibly after a quick retest of the broken support.

On the 4-hour time frame, stochastic is still climbing, which suggests that dollar bulls or yen bears are still in control for now. The broken channel bottom is around the 99.00 major psychological level, which could act as resistance from now on.

131001_usdjpy

 

Bear in mind that the U.S. economy is currently facing a potential government shutdown, as lawmakers are unable to reach a deal on their debt ceiling plan. Further conflict could weigh on the dollar, as a government shutdown has negative effects on growth and overall economic performance.

By Kate Curtis from Trader's Way

Any Questions?
Email Us: sales@tradersway.com

bob@tradersway.pro/my
Quotations
Instrument Bid Ask Spread
Instrument Bid Ask Spread
Instrument Bid Ask Spread
Instrument Bid Ask Spread

2023 Martin Luther King Holiday Schedule

Due to the Martin King Holiday on 16 January, 2023, market activity and liquidity may be lower than usual....

Learn more

Sertai Kami dalam Hanya 1 Minit!

MT4MT5 TerminalMetaTrader for Mac
TradersWay's Facebook TradersWay's Telegram Channel TradersWay's Twitter TradersWay's Instagram
bob@tradersway.pro/my