USD/JPY: technical analysis and trading recommendations_06/29/2022


USD/JPY is traded near the 136.50 mark, maintaining the potential for further growth. There is a strong upward momentum, fueled, among other things, by the growing divergence in the direction of the monetary policies of the Fed and the Bank of Japan. The breakdown of the local maximum 136.70 will be a signal to increase long positions.


In an alternative scenario, the signal for short-term sales will be a breakdown of support levels 135.19 (local support level) and 135.26 (EMA200 on the 1-hour chart).

USD/JPY H4 Chart

In this case, the downward correction may continue to the support level 132.37 (EMA200 on the 4-hour chart) and even lower - to the support level 131.00 (local highs, EMA50 and the lower line of the rising channel on the daily chart), where pending buy orders can be placed. A deeper decline is unlikely.

In the main scenario, we expect continued growth.

USD/JPY H1 Chart

Support levels: 136.00, 135.19, 132.37, 131.00, 126.55, 124.20, 121.65

Resistance levels: 136.70, 137.00

Trading recommendations

Buy Stop 136.55. Stop Loss 135.70. Take-Profit 136.70, 137.00, 138.00, 139.00, 140.00

Sell ​​Stop 135.70. Stop Loss 136.55. Take Profit 135.19, 132.37, 131.00