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The pair continues to fluctuate against the yen between 50 SMA coaxial 124.20 and resistance, and we are still waiting for a breakthrough this resistance to support the continuation of our expectations to the upside on the intraday and short term, and that still exist and effective price steadily above the level of 123.20.
for july 24, 2015 japan will release the flash manufacturing pmi. the us publish some economic data on new home sales and flash manufacturing pmi. so there is a strong probablity the usdjpy will move with low to medium volatility during the day
We will keep the positive expectations for the coming period, and targets start at 125.84 and extends to 127.00, with an indication that the breach of 123.20 may put pressure on the price to visit the 122.35 then 121.50 levels before any new attempt to rise.
USDJPY
Price: 123.93 July 24 20:11
Movement: 1.6 Pips (0:01%)
pivot
Support: 123.41
Pivot: 123.92
Resistance: 124.43
Technical indicators
Short Term: 20% Buy
Mid Term: 75% Buy
Long Term: 67% Buy
Recommendation: 48% Buy
For two days traders are hesitant on this cross, shared between the bullish dollar and the very positive trend of the Japanese economy in recent weeks. The course support has been tested on numerous occasions over the last few hours and it will still probably during the Asian session before the end of the week which will be completed shortly after the release of manufacturing PMI US.
technical analysis summary: resistance level: 124.17/123.43/124.68, support levels: 123.66/123.40/123.23, momentum H1: neutral, indicators: buy, moving averages: strong sell.
intraday trend H4: neutral, indicators: sell, moving averages: buy
short term trend daily: strong buy, indicators: strong buy, moving Averages: buy
Downs: Breaking price support levels, and levels of uptrend at 123.80 and closing prices under them It is the opportunity to sell the goals of up to 123.50 - 123.20
Up: the price remains above support levels, and levels of uptrend at 123.80 and trading prices above them It is an opportunity to buy the objectives of up to 124.10 - 124.35
http://i.imgur.com/vTRFSQt.png
Was unable dollar versus the yen, breaking through the level of 124.20, to trade passively noticeable now approaching the pivotal support of 123.20, and as we pointed out in the last of our reports, stability above this level is a prerequisite for the continuation of the positive scenario on the intraday and short term, where breaching it will put pressure on the price to visit levelsIt begins at 122.35 and extends to 121.50.
http://i.imgur.com/zkV4eij.png
USDJPY
Price: 123.02 July 27 20:58
Movement: -77.1 Pips (-0.62%)
pivot
Support: 123.33
Pivot: 123.83
Resistance: 124.32
Technical indicators
Short Term: 80% Sell
Mid Term: 25% Sell
Long Term: 67% Buy
Recommendation: 24% Sell
We continue tipping upward trend for the coming period with the support of access to the stochastic oversold levels, with a reminder that the break of 124.20 is needed to confirm open the way towards 125.84 then 127.00 areas.
http://i.imgur.com/zkV4eij.png