• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

ForexSchoolOnline.com

Learn to Trade Forex Online

  • Compare Brokers
    • Broker Type
      • Paypal Brokers
      • Swap-Free Brokers
      • Low Spread Brokers
      • ECN / STP Brokers
      • Market Maker Brokers
      • Non Dealing Desk Brokers
      • Low Minimum Deposit Brokers
    • Country
      • Brokers for Australia
      • Brokers for South Africa
      • Brokers for the UK
      • Brokers for the US
      • Brokers for Nigeria
    • Regulation
      • FCA Regulated Brokers
      • ASIC Regulated Brokers
      • FSCA Regulated Brokers
      • CFTC Regulated Brokers
    • Platform
      • MT4 Brokers
      • MT5 Forex Brokers
    • Strategies
      • Hedging Forex Brokers
      • Scalping Forex Brokers
      • Carry Trade Forex Brokers
      • Brokers for Indicators and EA’s
  • Start Here
    • Start Trading Guide
    • Beginner Trading Lessons
  • Free Forex Course
    • Public Login
    • Register
    • Password recovery
  • Lessons
    • Strategies
    • Videos
    • MT4 Guides
    • Money Management
  • Trade Setups
  • Tools
    • Correct Free Demo Charts
    • Forex Journal Download
    • Position Size Calculator
    • FULL List of Tools
    • Forex Demo Accounts
  • Price Action Guide
  • Free Course

USDJPY: Price Remains Pressured above the Supply Levels

Johnathon Fox
11/01/2024 | UPDATED ON: 11/01/2024

USDJPY price remains pressured above the supply levels.
Overall market sentiment regarding the currency pair remains bullish.

USDJPY Weekly Price Analysis – November 1

USDJPY price remains pressured above the supply levels despite the influence of the bears in the order flow. The Yen is experiencing high pressure from the bulls. Conversely, if the bullish pattern persists and sustains above the $161.95 resistance point, the bulls’ trend could continue rising to hit the $170.00 upper high level, suggesting a buying opportunity for long traders.

USDJPY Market
Key Levels:
Resistance levels: $150.00, $151.00, $152.00
Support levels: $146.00, $145.00, $144.00

USDJPY Long-term Trend: Bullish (Daily Chart)

The USDJPY price remains pressured above the supply levels as the bulls determine the market conditions in the long-term outlook. The price bars are above the supply trend levels, indicating a strong bullish trend.
USDJPY:  Price Remains Pressured above the Supply Levels
The increase in bulls’ momentum to a $153.48 high level in the past session has enabled the price of USDJPY to remain pressured above the supply levels in its recent high.

Despite the interference of the short traders at the $151.91 support level today, the Yen price remains pressured above the supply levels on the daily chart, suggesting an uptrend and more bullish impacts on the currency pair. Meanwhile, staying above the supply levels gives the currency pair the tendency to rise further.

Therefore, an increase in buying momentum could turn the USDJPY price positive to hit the $161.95 barrier, triggering the recovery pattern and driving the prices of USDJPY higher to the $170.00 overhead resistance in the coming days as the pair remains pressured above the supply levels in its higher time forecast.

USDJPY Medium-term Trend: Bullish (4H Chart)

The USDJPY price remains pressured above the supply levels, experiencing a significant price surge in its medium-term outlook. The currency pair is rising, as seen from the chart below.
USDJPY:  Price Remains Pressured above the Supply Levels
The bullish pressure at the $153.52 resistance level in the past action has made the Yen price remain pressured and stay above the supply trend levels in recent times.

Despite the interaction from the bears at the $151.91 low mark, the bulls successfully pulled back the USDJPY price to a $152.74 high mark above the resistance trend lines as the journey up north continues shortly after the 4-hourly chart opens today.

The price remains pressured above the supply levels; if this continues, the Yen price could surge to reach the $153.87 previous barrier, as the bulls remain dominant and have the market price at their disposal at the moment. Further, an increase in buying pressure will lead the price of USDJPY towards the upper resistance levels.

Hence, the USDJPY price might remain pressured above the supply levels and continue in the same direction as indicated by the daily stochastic pointing in an upward direction.

The bulls could aim at the psychological $170.00 upper resistance value in the days ahead as the USDJPY remains pressured above the supply levels in its medium-term perspective.

Note: Forexschoolonline.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

Recommended Broker

  • Broker
  • Min Deposit
  • Benefits
  • Score
  • Visit Broker

$200

T&Cs Apply
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
5
Trade Now FreeBets Reviews
Reviews

About Johnathon Fox

Johnathon is a Forex and Futures trader with over ten years trading experience who also acts as a mentor and coach to thousands and has written for some of the biggest finance and trading sites in the world.

View all posts by Johnathon Fox →
Previous Post: « Dogecoin (DOGEUSD) Price Exhibits an Essential Growth
Next Post: Tamadoge (TAMA/USD) Prices Are Bouncing About, Pose Spirals »

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

Forex School Online

High Probability Price Action Trading

How to make, manage and take profit from trades in the markets

Start Learning (It's Free!)

Turn Your Trades into Winners!

The Price action course is the in-depth advanced training on assessing, making and managing high probability price action trades.

Sign up for Free!

Recommended Broker

  • Broker
  • Min Deposit
  • Benefits
  • Score
  • Visit Broker

$200

T&Cs Apply
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
5
Trade Now FreeBets Reviews
Reviews

Footer

Get Our FREE Course, Bonus Strategies & Indicators!
X
Join Us Now!

Your capital is at risk.

X

CORNERSTONE LESSONS

Forex Trading for Beginners

Price Action Trading

How to Trade Forex

Technical Analysis

Forex Charts

Forex Trading Strategies

Money Management 

Compare Brokers

Best Forex Brokers

Forex Demo Accounts

Best Forex Trading Platforms

Forex Apps

Swap Fee Accounts

MT4 Brokers

CATEGORIES

Forex Videos

Trading Lessons

Weekly Trade Ideas

Start Here Guide

ForexSchoolOnline.com helps individual traders learn how to trade the Forex market

WARNING: The content on this site should not be considered investment advice and we are not authorised to provide investment advice. Nothing on this website is an endorsement or recommendation of a particular trading strategy or investment decision. The information on this website is general in nature so you must consider the information in light of your objectives, financial situation and needs.

Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence or obtain advice where necessary. This website is free for you to use but we may receive a commission from the companies we feature on this site.

We Introduce people to the world of currency trading. and provide educational content to help them learn how to become profitable traders. we're also a community of traders that support each other on our daily trading journey

Forexschoolonline.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.

Copyright © Forex School Online Sitemap  - Privacy Policy - Disclaimers & Terms of Use - CONTACT US