empty
25.03.2024 03:46 PM
USD/JPY: trading scenarios on March 25, 2024

This image is no longer relevant

After reaching a local high of 151.86 last week, the USD/JPY pair today remains within a range between the levels of 150.30, 151.00, and 151.80 for the third consecutive trading day.

The important short-term support level (200 EMA on the 1-hour chart) also passes through the 150.30 mark. Therefore, a breakthrough of the 151.00 mark, followed by 150.30, could signal the start of a downward correction.

This image is no longer relevant

Considering the pair's overall bullish trend, this correction may be limited by support levels at 149.33 (200 EMA on the 4-hour chart) and 149.00 (50 EMA on the daily chart).

Only a breakthrough of the key support level at 146.00 (200 EMA on the daily chart) could lead the price into the zone of the medium-term bearish market, which could make short positions preferable.

This image is no longer relevant

For now, above the support levels of 151.00 and 150.30, preference should be given to long positions. In this case, a breakthrough of the local resistance at the 151.50 mark could be the first signal for new long positions, with a breakthrough of the 151.86 mark confirming it.

From a technical point of view, USD/JPY continues to trade in a bullish market zone, medium-term—above the key support level of 146.00 (200 EMA on the daily chart), and long-term—above the key support level of 130.50 (200 EMA on the weekly chart). Thus, both from a technical and fundamental point of view, long positions remain preferable for now.

Support levels: 151.00, 150.30, 150.00, 149.33, 149.00, 148.00, 147.20, 147.00, 146.00, 145.10, 145.00

Resistance levels: 151.50, 151.86, 152.00, 153.00

Trading scenarios

Main scenario

Aggressive: Buy at market, Buy Stop 151.60. Stop Loss 150.80

Moderate: Buy Stop 152.10. Stop Loss 151.40

Targets 153.00, 154.00, 155.00

Alternative scenario

Aggressive: Sell Stop 150.90. Stop Loss 151.60

Moderate: Sell Stop 150.20. Stop Loss 151.10

Targets 150.00, 149.33, 149.00, 148.00, 147.20, 147.00, 146.00, 145.10, 145.00

"Targets" correspond to support/resistance levels. This also does not mean that they will necessarily be reached, but they can serve as a guide when planning and placing trading positions.

Jurij Tolin,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

GBP/USD: Trading Plan for the U.S. Session on April 3rd (Review of Morning Trades)

In my morning forecast, I highlighted the 1.3098 level and planned to base entry decisions on it. Let's take a look at the 5-minute chart to see what happened

Miroslaw Bawulski 18:28 2025-04-03 UTC+2

EUR/USD: Trading Plan for the U.S. Session on April 3rd (Review of Morning Trades)

In my morning forecast, I highlighted the 1.0952 level and planned to make entry decisions from there. Let's look at the 5-minute chart and analyze what happened. A drop followed

Miroslaw Bawulski 18:25 2025-04-03 UTC+2

How to Trade the GBP/USD Pair on April 3? Simple Tips and Trade Analysis for Beginners

Analysis of Wednesday's Trades 1H Chart of GBP/USD On Wednesday, the GBP/USD pair surged by 160 pips and continues its rapid upward movement. Let us reiterate: we did not expect

Paolo Greco 07:26 2025-04-03 UTC+2

How to Trade the EUR/USD Pair on April 3? Simple Tips and Trade Analysis for Beginners

Analysis of Wednesday's Trades 1H Chart of EUR/USD The EUR/USD currency pair traded with gains on Wednesday, though this had nothing to do with the macroeconomic backdrop. The U.S. dollar

Paolo Greco 07:26 2025-04-03 UTC+2

Trading Recommendations and Analysis for GBP/USD on April 3: The British Pound Remains in a Flat Range

The GBP/USD currency pair continued to trade within a sideways channel on Wednesday. Over the past two weeks, all price movement has occurred between the 1.2863 and 1.2981 levels

Paolo Greco 03:53 2025-04-03 UTC+2

Trading Recommendations and Analysis for EUR/USD on April 3: No Tariffs, No Movement

The EUR/USD currency pair traded on Wednesday as it did on Monday and Tuesday. For most of the day, we observed low-volatility, erratic movements with no clear logic. No information

Paolo Greco 03:53 2025-04-03 UTC+2

GBP/USD: Trading Plan for the U.S. Session on April 2nd (Review of Morning Trades)

In my morning forecast, I highlighted the 1.2903 level and planned to make trading decisions based on it. Let's look at the 5-minute chart and analyze what happened. A decline

Miroslaw Bawulski 20:07 2025-04-02 UTC+2

EUR/USD: Trading Plan for the U.S. Session on April 2nd (Review of Morning Trades)

In my morning forecast, I highlighted the 1.0781 level and planned to make trading decisions based on it. Let's look at the 5-minute chart and break down what happened

Miroslaw Bawulski 20:04 2025-04-02 UTC+2

How to Trade the GBP/USD Pair on April 2? Simple Tips and Trade Analysis for Beginners

Analysis of Tuesday's Trades 1H Chart of GBP/USD On Tuesday, the GBP/USD pair continued trading within a flat range, just as it has for several weeks. The macroeconomic background

Paolo Greco 06:25 2025-04-02 UTC+2

How to Trade the EUR/USD Pair on April 2? Simple Tips and Trade Analysis for Beginners

Analysis of Tuesday's Trades 1H Chart of EUR/USD On Tuesday, the EUR/USD currency pair continued to trade in the same mode as in previous weeks. What does that mean? Relatively

Paolo Greco 06:25 2025-04-02 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.