Bulls’ and Bears’ Momentum at Equilibrium Level – Cryptovibes.com – Daily Cryptocurrency and FX News
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USDJPY Price Analysis – March 02
In case the bulls try to increase their pressure, the resistance level of $115 may be broken upside and the price increases to $116 and $117 levels. An increase in the bears’ pressure may decrease USDJPY below the support level of $114 and if the daily candle close below it, it will decrease the price to $113 and $112 support level.
USDJPY Market
Key levels:
Resistance levels: 115, $116, $117
Support levels: $114, $113, $112
USDJPY Long-term Trend: Ranging
USDJPY is on the ranging movement. The bulls and the bears are warring at each other on daily chart on the USDJPY market. The bears have been trying to break down the support level of $114 but unable. Likewise, the bulls are trying to break up the resistance level of $115 but the level holds. Last week the momentum of bears and bulls were weak and the price is ranging within $114 and $115 levels.
USDJPY is hovering over and around the 9 periods EMA and 21 periods EMA as a sign of ranging market. In case the bulls try to increase their pressure, the resistance level of $115 may be broken upside and the price increases to $116 and $117 levels. An increase in the bears’ pressure may decrease USDJPY below the support level of $114 and if the daily candle close below it, it will decrease the price to $113 and $112 support level.
USDJPY Medium-term Trend: Ranging
USDJPY is on the ranging movement on the 4-hour chart. The bulls opposed the price declination at $114 level and the coin increases to $115 level. The momentum of the bears and bulls seems to be equal in the 4-hour chart. The price is dangling at within $115 and $114 levels due to failure in the bulls’ and bears’ pressure.
The price is trading around the 9 periods EMA and the 21 periods EMA, the Relative Strength Index period 14 is at 52 levels with the signal line displaying bullish price direction.
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