📊USDJPY 28th December 2024 Weekly Analysis Based on Main Key Levels

In this blog post, we provide a comprehensive analysis of the USDJPY market as of December 28, 2024. This analysis focuses on key price levels and potential trading strategies to help traders navigate the current market environment.

📍 Daily Current Market Price (DCMP)

The current market price for USDJPY is 157.843. This price level is essential for evaluating potential trading strategies.

📉 Key Levels

🛑 Resistance (Above DCMP)

Resistance 1: 157.657

Resistance 2: 158.783

Resistance 3: 160.605

✅ Support (Below DCMP)

Support 1: 154.014

Support 2: 152.888

Support 3: 151.067

📉 Swing Levels

Swing High: 156.751

Swing Low: 149.362

Summary of Analysis

As of now, the USDJPY market is positioned at 157.843. The key resistance levels above this price include 157.657, 158.783, and 160.605. The support levels below this price are 154.014, 152.888, and 151.067. The swing high is at 156.751, and the swing low is at 149.362.

Suggested Trades

💼 Intraday Buy Trade

Entry Price: ✨ 157.657

Stop Loss: ❌ 157.500

Take Profit 1: 🎯 157.900

Take Profit 2: 🎯 158.200

📌 Reason for Entry

The price is approaching a key support level at 157.657, indicating a favorable buying opportunity based on technical analysis.

💼 Intraday Sell Trade

Entry Price: ✨ 158.783

Stop Loss: ❌ 159.000

Take Profit 1: 🎯 158.500

Take Profit 2: 🎯 158.200

📌 Reason for Entry

Resistance at 158.783 suggests a potential selling opportunity as it aligns with the technical analysis, providing clear targets below this level.

Conclusion

This analysis provides a concise overview of key levels and trade opportunities for USDJPY. By monitoring these levels, traders can make informed decisions in the current market environment. Stay tuned for more insights, and happy trading!