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USDJPY Forex Analysis for May 21st 2019

Tuesday, May 21, 2019 10:34

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The price action of USDJPY pair has been trading with a bullish bias inside fifteen minutes chart and the up trend looks good. Price action is stepping up, and bullish trend looks strong. Key support level is present at 110.01 price area, based on most recent swing low in 15 minutes chart of USDJPY.

For the Japanese Yen on Monday, there was no outstanding news announcement. According to the Forex analysis; USDJPY bullish trend could move price towards next resistance target at 110.35 with reference to the up trend, Forex traders should consider only buy trades. However; price could breaks and closes a bearish candlestick below 110.01 important support level and this will end the bullish trend. From this time forward, Forex traders must seize the opportunity to stop trading and re-assess USDJPY in 15 minutes time frame.

Source: https://fxinstructor.com/blog/usdjpy-forex-analysis-for-may-21st-2019

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