What happens if I select a regulator?

Admiral Markets UK is regulated by the UK Financial Conduct Authority (FCA): Firm Ref № 595450.

Admiral Markets AS is regulated by the Estonian Financial Supervision Authority (EFSA): License № 4.1-1/46.

Admiral Markets Cyprus Ltd authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC): License number 201/13.

Selecting one of these regulators will display the corresponding information across the entire website. If you would like to display information for a different regulator, please select it.

Thank you, got it

USD/JPY Bullish Momentum Breaks 38.2% Fib Resistance

April 24, 2018 12:53


4 hour

The USD/JPY managed to break above the rising wedge chart pattern and 38.2% Fibonacci resistance level at 108. Bullish momentum took price close to the 50% Fib, which is a new bounce or break spot. A new bullish breakout could indicate a potential breakout towards the 61.8% Fib at 110 whereas a bearish bounce could indicate that perhaps the wave 4 (blue) correction is still valid.

1 hour

The USD/JPY is building a smaller bullish channel on the 1 hour chart. A break below the support trend line (green) could indicate a wave 4 (green) correction and price could use the Fibonacci levels as a potential bounce and support.

Good trading,

Chris Svorcik

P.S. Don't forget to follow Admiral Markets on Facebook – or @AdmiralMarkets on Twitter – for the latest market updates.