Usd/Jpy

USDJPY
Price: 123.91 July 22 20:30
Movement: 2.8 Pips (of 0.02%)

pivot
Support: 123.33
Pivot: 124.04
Resistance: 124.75

Technical indicators
Short Term: 80% Buy
Mid Term: 75% Buy
Long Term: 67% Buy
Recommendation: 72% Buy

Dollar US / yen back down and made a loss for the levels of 124.00 because of strong resistance under the price of 124.40 and the price of 124.50, with the success of our expectations yesterday work corrected the bearish technical after pressure from the daily momentum indicators, and returned down the price of 123.70 and expectations to go to 123.20 soon.

23.6% Fibonacci retracement around 124.40 strong resistance levels returned to target price 38% Fibonacci fractured 123.60 today to target below 123.20, it is necessary to rise and test the pair's highest in seven years to exceed 125.85 124.40 124.50 price levels and strongly.

Eyes on homes and existing home sales and a positive outlook price index may return to the US dollar to rebound to levels of 124.40 today and experimentation it again.

The falling dollar has also been important against the yen after many sessions of strong growth. There will be no major economic indicator to Wednesday, the day program, but it may be worthwhile to pay attention to the publication of the level of existing home sales in the US during the afternoon .

Japan will release data on the trade balance, and the us will release economic data about natural gas storage cb leading index m/m and unemployment claims. so there is a strong probability that the usdjpy pair will move with low to medium volatility during the day.

Fluctuating dollar versus the yen near 124.20 pivotal resistance, and is a moving average of 50 ground instantaneous support to protect the positive scenario on the intraday and short term, pending breach the mentioned level to confirm the continuation of the bullish tendency in the coming period.

USDJPY
Price: 124.14 July 23 20:19
Movement: 19 Pips (0:15%)

pivot
Support: 123.30
Pivot: 123.89
Resistance: 124.47

Technical indicators
Short Term: 80% Buy
Mid Term: 75% Buy
Long Term: 67% Buy
Recommendation: 72% Buy

Currently, the currency pair USD / JPY is trading sideways in a modest area at 123.99, down from the highest levels of the session at 124.14 area. Trading the currency pair USD / JPY USD / JPY is quiet to a large extent, mainly driven by the weakness of the US dollar on a large scale on the back of profit taking after a strong houses that led to gains on Wednesday sales data. Declining US Dollar Index - a practical measure of the strength of the US currency versus six major currencies - by -0.21% at 97.41 levels.

The pair found support above the 123.40 level a few points where on the SMA 50-colored in red- painted as seen on the daily chart.

Accordingly, is not activated sale is below the level 123.40, while the moderate correction is still limited below the level 124.50

Technical indicators can not give clear signals; therefore, we will remain neutral in the case today.

The USDJPY pair is approaching the support level of 123.56

USDJPY
July 23, 2015, 11:25

Sell on a level breakthrough of 123.56 with 122.93 target. Stop loss = 124.06.

Reason for the trading strategy

Growth of the euro to the level of $1.1 has put significant pressure on the US dollar against the yen. Today, the world's reserve currency may be supported by the weekly report on the US labor market. However, the probability of the USD/JPY pair breaking through the local support of 123.56 seems high.



USDJPY, H1


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