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Message: [QUOTE="FXOpen Trader, post: 239359, member: 130540"] [B][SIZE=5]USDJPY Technical Analysis – 12th DEC, 2024 USDJPY – Bullish Price Crossover[/SIZE][/B] [img]https://i.imgur.com/G2tQ1Ok.png[/img] USDJPY was unable to continue its bearish momentum and after touching a low of 151.82 the prices started to correct upwards against the United States Dollar today in the US Trading session. The Bullish price crossover with adaptative moving average 20 can be seen in the 15-minutes timeframe. We see Ichimoku - Bullish crossover: Tenkan & Kijun present in the 15-minutes timeframe. The MACD indicator: bullish divergence is visible in the 15-minutes timeframe. The prices are ranging Near support of channel in the 1-hourly timeframe. Also, we see Momentum indicator is back over zero in the 1-hourly timeframe. We have seen Bullish price crossover with adaptative moving average 50 in the weekly timeframe. Some of the technical indicators are also giving a Bearish to Neutral stance in the markets indicating the presence of the Consolidation wave in the markets. The RSI indicator is back over 50 in the weekly timeframe. USDJPY is now trading above its 100-hour SMA and its 200-hour SMA simple moving averages. • Yen Bullish reversal seen above the 151.82 mark. • Short-term range appears to be Bullish. • USDJPY continues to remain above the 152.20 levels. • Average true range ATR is indicating High market volatility. The next resistance is located at 152.59 at which the Price Crosses 40 Day Moving Average. USDJPY is now trading near to its Pivot levels of 152.26 and is moving into a Bullish channel. The price of USDJPY remains above its Classic support levels of 151.87 and is now moving towards its next target of 153.10 which is a 14-3 Day Raw Stochastic at 70%. [I][B]Disclaimer:[/B] This analysis represents my own opinion only. It is not to be construed as an opinion, offer, solicitation, recommendation, or financial advice of the Companies operating under the FXOpen brand.[/I] [B][URL="https://fxopen.com/blog/en/?utm_source=earnforexforum&utm_medium=ownanalysis&utm_campaign=resolve"]For in-depth analysis, please check FXOpen Blog[/URL][/B] [/QUOTE]

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