Admiral Markets Group consists of the following firms:

Admiral Markets UK Ltd

Regulated by the Financial Conduct Authority (FCA)
  • Leverage up to:
    1:30 for retail clients,
    1:500 for professional clients
  • FSCS protection
  • Negative balance protection
CONTINUE

Admiral Markets AS

Regulated by the Estonian Financial Supervision Authority (EFSA)
  • Leverage up to:
    1:30 for retail clients,
    1:500 for professional clients
  • Guarantee Fund
  • Negative balance protection
CONTINUE

Admiral Markets Cyprus Ltd

Regulated by the Cyprus Securities and Exchange Commission (CySEC)
  • Leverage up to:
    1:30 for retail clients,
    1:500 for professional clients
  • ICF protection
  • Negative balance protection
CONTINUE

Admiral Markets Pty Ltd

Regulated by the Australian Securities and Investments Commission (ASIC)
  • Leverage up to:
    1:500 for retail clients
  • Volatility protection
CONTINUE
Note: If you close this window without choosing a firm, you agree to proceed under the FCA (UK) regulation.
Note: If you close this window without choosing a firm, you agree to proceed under the FCA (UK) regulation.
Regulator fca efsa CySEC asic

USD/JPY Bullish Wave 3 Breaking above Weekly Resistance

October 01, 2018 09:58

USD/JPY

4 hour

USDJPY Hourly Chart - Wave Analysis

Source: Admiral Markets MT5 with MT5SE Add-on USD/JPY motive wave – Accessed 1 October 2018 at 6:00 AM GMT

The USDJPY currency pair remains in the uptrend channel, and the price is now approaching the resistance trend line of that channel. As long as the price remains in the channel, there is more space to move up towards the Fibonacci target levels. The current bullish momentum and candlesticks are part of the wave C (purple) of wave Y of D.

1 hour

USDJPY Hourly Chart - Wave Analysis

Source: Admiral Markets MT5 with MT5SE Add-on USD/JPY motive wave – Accessed 1 October 2018 at 6:00 AM GMT

The USD/JPY currency pair is showing strong bullish momentum at the moment which is probably part of a wave 3 (green). A break below the support trend line (blue) could indicate a larger retracement, but the Fibonacci retracement levels could act as potential support for a bullish continuation.

Daily

USDJPY Weekly Chart Wave Analysis

Source: Admiral Markets MT5 with MT5SE Add-on USD/JPY motive wave – Accessed 1 October 2018 at 6:00 AM GMT

The USD/JPY is showing a bullish breakout above the resistance trend lines (dotted red) and 61.8% Fibonacci levels on the weekly chart. The breakout however could be part of the triangle (wave ABCDE) pattern, as long as the price stays below the 78.6-100% Fib resistance levels. A bullish breakout indicates more upside.

This material does not contain and should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments. Please note that such trading analysis is not a reliable indicator for any current or future performance, as circumstances may change over time. Before making any investment decisions, you should seek advice from independent financial advisors to ensure you understand the risks.


Risk Warning

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 83% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.