Created
: 2024.12.02
- English
- English
- What's Myforex
- Share
- Use tools
- Get information
- What's New
- Help center
- About us
- Customer support
- Terms and policies
-
-
PortfolioShare your portfolio and performance in real time -
Events & contestsEvents and contests held by retail brokers around the world
-
-
Real-time spread comparisonCompare spreads of major retail brokers in real time -
Volatility analysisVisualize volatility as a measure of daily market activity -
Swap point comparisonCompare buy and sell swap values for each broker by symbol -
Market rates & chartsCheck prices for all instruments offered by each broker -
IndicatorsProviding in-house developed indicators for MT4/MT5 -
Trading calculatorsCalculation tools for each broker to help you trade
-
-
World FX newsLatest news on forex and cryptocurrencies from around the world -
Broker informationTrading information of retail brokers worldwide -
MetaTrader4/5 user guideUser guide collection for the latest MetaTrader4/5 -
Economic calendarRelease calendar for indicators from official sources of major economies
USD/JPY Price Prediction: Pulls back after breaking out of price pattern
World FX news
Breaking news
USD/JPY Price Prediction: Pulls back after breaking out of price pattern
New
2024.12.02 22:37
2024.12.02 22:37
2024.12.02 22:37
- USD/JPY pulls back after breaking out of a bearish price pattern.
- The pair is still in a bear trend, however and likely to continue lower.
USD/JPY pulls back after breaking out of a bearish Broadening Formation (BF) pattern and pulls back to the 50-day Simple Moving Average (SMA). The pair is probably in a short-term downtrend which is more likely than not to extend.
The first downside target lies at 148.54, the 61.8% Fibonacci extrapolation of the height of the pattern extrapolated lower.
USD/JPY Daily Chart
Further bearishness could carry USD/JPY to the next target at 148.24, the September 2, key swing high.
The (blue) Moving Average Convergence Divergence (MACD) momentum indicator is diverging away from its red signal line which is bearish and has fallen below the zero line on an intraday basis. If it closes below zero then it will increase the bearishness of the indicator reading.
Last updated
: 2024.12.02
Related articles
US ISM Manufacturing PMI improves to 48.4 in November vs. 47.5 expected
47 minutes agoGBP/USD Price Forecast: Slips below 1.2700 amid buoyant US Dollar
55 minutes agoEUR/JPY Price Prediction: Reaches oversold levels as downtrend extends
2024.12.02 23:40AUD/USD Price Forecast: Gaps open and falls towards floor of range
2024.12.02 23:06USD/JPY Price Prediction: Pulls back after breaking out of price pattern
2024.12.02 22:36EUR/USD falls on French political risk and Trump's defence of the Dollar
2024.12.02 22:00
FXStreet is a forex information website, delivering market analysis and news articles 24/7.
It features a number of articles contributed by well-known analysts, in addition to the ones by its editorial team.
Founded in 2000 by Francesc Riverola, a Spanish economist, it has grown to become a world-renowned information website.
Was this article helpful?
We hope you find this article useful. Any comments or suggestions will be greatly appreciated.
We are also looking for writers with extensive experience in forex and crypto to join us.
please contact us at [email protected].
Thank you for your feedback.
Thank you for your feedback.
Most viewed
US ISM Manufacturing PMI improves to 48.4 in November vs. 47.5 expected
The business activity in the US manufacturing sector continued to contract, albeit at a softer pace in November, with the ISM Manufacturing PMI rising to 48.4 from 46.5 in October.
New
2024.12.03 00:07GBP/USD Price Forecast: Slips below 1.2700 amid buoyant US Dollar
The Pound Sterling tumbled over 0.50% against the Greenback on Monday, as the latter recovered from last week's losses, remaining bid on Monday.
New
2024.12.02 23:59EUR/JPY Price Prediction: Reaches oversold levels as downtrend extends
EUR/JPY extends its decline on Monday but reaches oversold levels.
New
2024.12.02 23:40AUD/USD Price Forecast: Gaps open and falls towards floor of range
AUD/USD is falling within a range encompassed by the green (ceiling) and red (floor) dashed lines on the chart below.
New
2024.12.02 23:06USD/JPY Price Prediction: Pulls back after breaking out of price pattern
USD/JPY pulls back after breaking out of a bearish Broadening Formation (BF) pattern and pulls back to the 50-day Simple Moving Average (SMA).
New
2024.12.02 22:36Gold pulls back after Trump defends the Dollar and threatens BRICS
Gold (XAU/USD) falls and trades in the $2,630s on Monday due to a stronger US Dollar (USD).
New
2024.12.02 22:06EUR/USD falls on French political risk and Trump's defence of the Dollar
EUR/USD is trading over half a percent lower on Monday, with a single Euro (EUR) buying about 1.0500 US Dollars (USD) as New York awakes to the sound of alarm clocks and scent of coffee.
New
2024.12.02 22:00US Dollar rallies on Trump tariff threats against BRICS, French political turmoil
The US Dollar (USD) gains on Monday, paring back Friday's losses, driven by Donald Trump's promise to impose tariffs on BRICS countries if they stop using the USD and amid increasing French political turmoil, which is weighing on the Euro (EUR).
New
2024.12.02 21:53Crude Oil trades stuck in tight range ahead of crucial OPEC+ meeting
Crude Oil is still trading in a tight range on Monday, similar to levels seen last week, ahead of the most crucial OPEC+ meeting ahead of 2025 to be held on Thursday. Before the gathering, Iranian official Afshin Javan threw the cat among the pigeons by
New
2024.12.02 20:35Silver price today: Silver falls, according to FXStreet data
Most recent article: Silver price today: Silver falls, according to FXStreet data Silver prices (XAG/USD) fell on Monday, according to FXStreet data.
New
2024.12.02 18:30Disclaimer:
All information and content provided on this website is provided for informational purposes only and is not intended to solicit any investment. Although all efforts are made in order to ensure that the information is correct, no guarantee is provided for the accuracy of any content on this website. Any decision made shall be the responsibility of the investor and Myforex does not take any responsibility whatsoever regarding the use of any information provided herein.
The content provided on this website belongs to Myforex and, where stated, the relevant licensors. All rights are reserved by Myforex and the relevant licensors, and no content of this website, whether in full or in part, shall be copied or displayed elsewhere without the explicit written permission of the relevant copyright holder. If you wish to use any part of the content provided on this website, please ensure that you contact Myforex.
Myforex uses cookies to improve the convenience and functionality of this website. This website may include cookies not only by us but also by third parties (advertisers, log analysts, etc.) for the purpose of tracking the activities of users. Cookie policy
