Yesterday, the USDJPY pair declined and was trading at 111.40. However, at the moment, how is the pair trading? Gain insight into today’s 3 August USDJPY Technical Forecast.
3 August, GKFX – The USDJPY is eyeing a break above 112.00, having witnessed a bull flag-breakout on the hourly chart in the US session yesterday. However, the upside has been capped by the upper Bollinger band (standard deviation of +2, -2 on the 20-hour moving average).
3 August USDJPY Technical Forecast
So, what bull need now is a convincing move above the resistance of the upper Bollinger band, currently located at 111.81.
Spot Rate: 111.70
Daily High: 111.78
Daily Low: 111.61
Trend: Bullish above 111.81
111.81 (resistance of the hourly chart Bollinger band)
112.15 (August 1 high)
112.56 (76.4 percent Fibonacci retracement of the drop from 113.18 to 110.59)
111.51 (100-hour moving average)
111.29 (200-hour moving average)
110.73 (July 31 low)
This article 3 August USDJPY Technical Forecast was written by analysts at GKFX. The information provided herein is for general informational and educational purposes only. It is not intended and should not be construed to constitute advice.
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