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Audited consider the intraday time frames, we find that the price draws a double bottom model currently in progress, it has been shown on the secondary image, and thus, the break of 120.40 will give a positive incentive will enable the strong price trend towards levels begins at 125.85 and extends to 127.00.
http://i.imgur.com/4FiaJKn.png
The pair appears against the yen more volatility at the level of 120.40, and as we pointed out in the last of our reports, the rate needs to breach this level to confirm the continuation of the bullish trend in the short term, which depends mainly on the bullish rebound that emerged after approaching the support of the ascending channel shown in the image.
http://i.imgur.com/Qukhdnv.png
Trading Signal - 28/08/2015 - 10:00 (GMT +3)
Instrument: USDJPY
Time : 60min CHART
Trend & Condition : Upwards Strong
The TP1 was almost reached and the market is at risk of correcting lower cautioning us to move the stop loss higher(120.40). Provided
the market conditions will remain the same the TP1 will be reached soon.
Support & Resistances :
120.52 121.32
119.72 121.81
119.22 122.61
http://dl.dropbox.com/u/51561036/scr...829-031848.png
Stability above 120.40 is the first condition for the protection of the proposed positive scenario, where breaching it will pay the price to test the most important support at 117.75 directly.
http://i.imgur.com/TPN26oe.png
121.70 +0.68 +0.56%
Prev. Close: 121.03 Bid/Ask: 121.69 / 121.71 Day's Range: 120.66 - 121.75
Date Price Open High Low Change %
Aug 28, 2015 121.72 121.00 121.73 120.63 0.57%
Aug 27, 2015 121.03 119.90 121.39 119.77 0.93%
Aug 26, 2015 119.92 118.84 120.03 118.43 0.87%
Aug 25, 2015 118.88 118.39 120.41 118.23 0.39%
I think that will give a boost to the dollar as there will be less uncertainty and less risk aversion, therefore this will be bullish for USD/ JPY. Could be a nice pop, where it is right now.
Up: the price remains above the lower side of the channel levels, and penetration resistance line at 121.25 and closing prices above them It is an opportunity to buy the objectives of up to 121.50 - 121.75.
Down: the price remains below the resistance line levels, broken rib bottom channel levels at 121.05 and closing prices under them It is the opportunity to sell the goals of up to 120.80 - 120.50.
http://i.imgur.com/znfGVZh.png
dear friends Well in fact I personally believe this should be the case , Hopefully as I'm very confused for the past two days, Market is going crazy, Not predictable, not reasonable, especially with all these news....... thanks
(Timezone: GMT 0.0, DST off)
Economic Calendar
Sunday Aug 30, 23:50----- Japan ------Industrial Production (MoM) ------Low --- Previous --1.1%-----Consensus --;;0.1%
Sunday Aug 30, 23:50---- Japan Industrial Production (YoY) --------Medium ----- Previous --2.3%
---------- Post added at 09:58 AM ---------- Previous post was at 09:34 AM ----------
Economic Calendar
Monday Aug 31, 05:00
Japan --------Annualized Housing Starts
Low --------1.033
Monday Aug 31, 05:00
Japan---------;; Housing Starts (YoY)
Low -------16.3% 11.0%
Monday Aug 31, 05:00
Japan -----;;;Construction Orders (YoY)
Low -----;15.4%[COLOR="Silver"]
---------- Post added at 10:00 AM ---------- Previous post was at 09:58 AM ----------
---------- Post added at 10:25 AM ---------- Previous post was at 10:00 AM ----------
Economic calender USA
Monday Aug 31, 13:45 ------United States --;-Chicago Purchasing Managers' Index
Medium ----prv----54.7 ----expt---54.5
Monday Aug 31, 15:30 ----United States -----3-Month Bill Auction
Low ---prvs----0.05%
Monday Aug 31, 15:30---- United States---- 6-Month Bill Auction
Low ----prvs----0.2%
The pair resumed its recovery after a break of 120.60 resistance that turned into support and paving the way for the next resistance at 121.90
Risk versus reward ratio is appropriate, as the landing below 120.60 will lead to the downward trend.
http://i.imgur.com/ZGZOgT4.png