empty
 
 
15.03.2022: Forex Analysis & Reviews: Elliott wave analysis of USD/JPY for March 15, 2022

analytics62303234886ec.jpg

USD/JPY yesterday broke through a resistance-line dating back from April 1990. The break above this resistance-line was smooth and without trouble indicating more upside progress in the weeks to come towards the next solid resistance near 124.15. This resistance will likely prove much harder to break and will likely produce a temporary corrective decline back to the resistance-line we just broke. However, this time the the line will act as support for the next rally higher towards the long-term target seen at 151.65.

So keep you focus towards the upside and a test of 124.15 before a larger corrective decline should be expected.

*Disclaimer: The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $5000 more!
    In November we raffle $5000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS
Can't speak right now?
Ask your question in the chat.
Widget callback