Trend analysis of the USDJPY for 12/11/21
USDJPY
On the 4-hour chart:
The piercing of the top border of triangle 81.38 trigged to the bulls as a red rag – pair reached more than 50 pips for the last day. The price recorded a 7-month high at 81.96. The moving averages are showing the ascending trend continuation.
On the 1-hour chart:
After piercing of the level 81.38, the pair found a resistance at the line 2, which is under testing now. In addition, the level 81.76 has been pierced. The moving averages continued to show the bullish trend.
On the 15-minute chart:
The pair pierced the resistance line 1 and now tries to hold the ground. In case of confirmation the line as a support, traders will continue to buy. Otherwise, the consolidation is possible.
USDJPY
On the 4-hour chart:
The piercing of the top border of triangle 81.38 trigged to the bulls as a red rag – pair reached more than 50 pips for the last day. The price recorded a 7-month high at 81.96. The moving averages are showing the ascending trend continuation.
On the 1-hour chart:
After piercing of the level 81.38, the pair found a resistance at the line 2, which is under testing now. In addition, the level 81.76 has been pierced. The moving averages continued to show the bullish trend.
On the 15-minute chart:
The pair pierced the resistance line 1 and now tries to hold the ground. In case of confirmation the line as a support, traders will continue to buy. Otherwise, the consolidation is possible.