USD/JPY analysis for May 15, 2019

USD/CAD has been trading upside. The price tes

ted the level of 1.3492. We are expecting more upside on the USD/CAD.

According to the H4 time-frame, we found that there is the breakout of the bullish flag and the rejection of the 20EMA, which is sign for the potential upside continuation. There is also a new up momentum on the MACD oscillator, which is another sign of the potential strength. We placed Fibonacci expansion to find potential upside target. We got Fibonacci expansion 61.8% at the price of 1.3520. Watch for buying opportunities with the target at 1.3520.

Upward references are set:

Swing high – 1.3504

Fibonacci expansion 61.8% – 1.3520

Downward references are set:

Swing low – 1.3455

Major low – 1.3380

The material has been provided by InstaForex Company – www.instaforex.com

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MOKAR

Author: MOKAR

Mula berdagang dalam pasaran forex sejak tahun 2003. Manakala pasaran bursa saham tempatan dan global pada tahun 2018. Menjadikan trading online sebagai kerjaya sepenuh masa pada tahun 2019. Kerjaya sebelum ini adalah seorang salesman kereta. Berpengalaman dengan pelbagai teknik dan perguruan tetapi akhirnya sangat serasi dengan teknik FMCBR @ Fibo Musang melalui guruku Cikgu Baha & Cikgu Zul.

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