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USD/JPY's sharp fall today argues that recovery from 78.33 is finished at 78.84. Intraday bias is cautiously on the downside for 78.33 and break will target 77.90 support next. The overall outlook remains unchanged. That is, price actions from 77.66 are either a consolidation pattern that's completed with three waves to 79.65, or is a five wave triangle pattern. In either case, recovery attempt should now be limited well below 79.65 resistance. Break of 77.99 will indicate that fall from 84.17 is finally resuming for 75.56/84.17 support zone.
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this yen is still sitting on the support area, i think this support will be broke soon
the fibo ratio for retracement on d1 is already broke so there is no way this pair will go up
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USD/JPY's sharp fall today argues that recovery from 78.33 is finished at 78.84. Intraday bias is cautiously on the downside for 78.33 and break will target 77.90 support next. The overall outlook remains unchanged. That is, price actions from 77.66 are either a consolidation pattern that's completed with three waves to 79.65, or is a five wave triangle pattern.
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The uptick, however, lacked any strong conviction, rather quickly ran out of the steam and the latest leg of a sudden drop over the past hour or so could further be attributed to some renewed US Dollar buying across the board.
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Unlike USDCAD, the EURCAD still struggles with 1.4950-40 area, breaking which it can surge to the 1.5000 round-figure but a downward slanting TL, at 1.5015 may limit the pair’s further advances. Given the pair’s ability to surpass the 1.5015 hurdle, the 1.5050 & the 1.5090 can act as intermediate halts during its rally to 1.5130-35 horizontal-region
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my analysis of usd.jpy
Resistance and Supporting level today,s
Today Trend is:bullish
Resistance level today,s is
First Resistance is: 109.80
Second Resistance is: 109.98
Third Resistance is: 110.20
Supporting levels today,s is
First Support is: 109.40
Second Support is: 109.20
Third Support is: 108.99
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Pivotal Points: 109.52
Resistance 3: 110.49
Resistance 2: 110.15
Resistance 1: 109.87
Support 1: 109.25
Support 2: 108.90
Support 3: 108.63
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Daily overview for UsdJpy
The price is finding the first support at 109.39 and the next support is at 109.14 The price is finding the first resistance at 109.84 and the next resistance is at 110.06. I predict price will be continued falling today. The first target is the level 109.13 After fixing below the first target, then price will go to the level of 108.97 will become the next one. we need looking fundamental news to get clear signal, don’t be overconfidence in our trading. this market is very dangerous for us. Keep apply our trading rules.
“--- Trading recommendations for trading : Open Sell ---“
According to the current scenario I would like to recommend you to keep an eye on support and resistance levels of the market and also don’t forget to use the proper money management. Have a great and profitable trading everyday !!
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this is my analysis for USDJPY
hopefully it will be good & understandable and help you to earn good profit in trading. Simple Moving Average chart for this pair seen as an indicator as smoothly up movement, so it is possible the breakdown of the resistance level at 109.40 and the pair will continue to go down to the next level level at 109.18 in my personal view this pair will be continue bullish trend, for intraday trading today
I advice to entry SELL Order at the level 109.49 stop loss at the level 109.04 and target take profit at the level 109.84
if market movement as my scenario, you can earn good profit and avoid much loss in your trading . keep trade with discipline and patience, remember..always trade in the direction of the current trend, because trend always your friend.
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USD /jpy is the most popular cruncey
Pair in the world.
Todays my major analysis.
Market trend is buy position this time.
Resistance and Supporting level today,s.
Resistance level today,s is
First Resistance is: 109.85
Second Resistance is: 109.94
Third Resistance is: 110.17
Supporting levels today,s is
First Support is: 109.38
Second Support is: 109.25
Third Support is: 108.98
Good luck.
You trade at your own risk.
Best of luck to all members of forax community.
