USDJPY May be Getting Ready for a Bullish Turn
Burc Oran
April 15, 2021
USDJPY Daily Chart, Spearman Indicator
USDJPY Daily Chart, Spearman Indicator

USDJPY couldn’t hold above 109.85 and fell after hitting 111. With the US 10-year bond rates testing back %1,60, USDJPY may continue its down move for a little more. But key support levels are on sight and the Spearman indicator has almost given a buy signal. USDJPY may turn towards the north as the price closes at 108.30 support. After that, a head&shoulders formation may be formed around 109.50 or we may witness another try over 109.85.

For downward moves, below 108.30, 107.46 level can become the next key support for USDJPY.

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