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see USDJPY market movements in the current H1 timeframe really vulnerable moment. because it could be two possibilities between up and down between 2 pieces of trendline. see the movement seems to still be blocked at the 38.2% Fibonacci point. should we wait for one of the trendline break it in first.
https://lh6.googleusercontent.com/-d...5BUNSET%5D.png
Continue to keep medium-term sales, a couple on the hourly chart has formed a converging triangle upper limit of which is a little stronger, the trend remains bearish, so even one sale going to open a breakthrough on the fact that the 97.00 figure should give impetus to 96.60 and 96.30.
A pair of usd / jpy pop is still under strong bearish pressures, green moving perfectly acts as a sloping resistance also significantly offset fractals to the south, a pair of clamp to the 97.00 figure breakthrough which will open 96.40 and 95.90.
USD/JPY intraday: under pressure.
Pivot: 97.75
Our preference: Short positions below 97.75 with targets @ 96.95 & 96.55 in extension.
Alternative scenario: Above 97.75 look for further upside with 98.2 & 98.5 as targets.
Comment: the pair stands below its new resistance and remains under pressure.
today i like to sell this pair @ 97.95
my stop loss of the day @ 95.17
my half take profiit @ 97.55
and half @ 97.34
Our preference: Long positions above 96.95 with targets @ 98.2 & 98.5 in extension.
Alternative scenario: Below 96.95 look for further downside with 96.55 & 96.1 as targets.
Comment: the pair has broken above its resistance and should post further advance as the RSI is well directed.
USD/JPY jumps towards 98.00
the dollar manged to advance versus the yen and reached a 2 day high
underpinned by the sharp rise seen in EUR/JPY
Usd/jpy pivot levels by using fibonacci pivot indicator.
r3:98.04
r2:97.78
r1:97.62
pivot :97.37
s1:97.11
s2:96.95
s3:96.70
USDJPY,H1
Date 2013.05.03
Time 04:00
Open 98.01
High 98.01
Low 97.99
Close 98.00
Volume 20
SMA(5) 97.97
SMA(10) 97.98
SMA(20) 97.77
SMA(50) 97.50
SMA(100) 97.61
SAR 97.33
Indicator window 1
Stoch(5,3,3) 65.1163
Signal 57.3393
Indicator window 2
RSI(14) 61.7865
Indicator window 3
MACD(12,26,9) 0.159
Signal 0.170
Indicator window 4
%R(14) -38.3838
based on combination of indicators above,
trend : NEUTRAL
USDJPY continues its sideways movement in a range between 95.83 and 99.94. As long as 95.83 support holds, the price action in the range is treated as consolidation of the uptrend from 77.14 (Sep 13, 2012 low), one more rise towards 105.00 could be expected after consolidation, and a break above 99.94 could signal resumption of the uptrend. On the downside, a breakdown below 95.83 support will indicate that the uptrend from 77.14 had completed at 99.94 already, then pullback to 90.00 area could be seen to follow.
Spoiler: