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upward movement is appearing when both of Accumulated Oscilator (AO), Relative Vigor Index (RVI) and Gator Oscilators are similar and reach postive value as indication this pair in uptrend mode, so pair will move up to above 97.99, then stochastic line fast and slow is still not crossing each other near neutral level 50 as neutral movement is still in progress
Our preference: Long @ 97.95 with targets @ 98.2 & 98.5 in extension.
Alternative scenario: Below 97.65 look for further downside with 97.3 & 96.95 as targets.
Comment: the RSI is above its neutrality area of 50 and lacks downward momentum.
Yes i agredd with you that when history if falling down only.some 20 years back,price was more then 300,arround 10 years back price was arrounf 150 and now 80,maybe after 5 years price goes to 50
USD/JPY technical analysis for 03.05.2013 by using : Indicator RSI (14)
If this currency pair made it through resistance at 98.46 would likely potential targets towards next resistance level of 98.77 and 99.19 furthest ranges - 99.75. And if otherwise made it through support at 97.77 would likely potential targets towards next support at 97.54 level and the furthest range of 97.34 - 96.69.
Indicator RSI (14), leads to the top of the line indicates the direction of the potential to rise.
Movement range:
Short: 97.70 - 98.50
Normal: 97.30 - 99.25
Width: 96.65 - 99.80
Market Trends:
Short-Term: Consolidation
Medium Term: Bullish
Long-Term: Bearish
Pair : USDJPY
Updated : Fri, May 03 12:31
Price : 97.98
Movement : 5.9 Pips
Movement : 0.06%
Support : 96.49
Pivot : 97.80
Resistance : 99.10
:respect:
Usd/jpy pivot levels by using fibonacci pivot indicator.
r3: 99.14
r2: 98.63
r1: 98.32
pivot : 97.81
s1: 97.30
s2: 96.99
s3: 96.48
like GBPJPY I suggest you to open a buy order for the currency pair USDJPY bullish because they have a greater chance, but to the target range in USDJPY is only 20 pips at a price 98.19, depending on the news that would happen if it could lead to the weakening jpy USDJPY will potentially penetrate high in price 98.38
see USDJPY pair market movements in H1 timeframe seems bullish power is still so strong. that will penetrate the 50% Fibonacci point that became resistant when this will be possible will be forwarded to the next resistant at the 61.8% Fibonacci point
https://lh6.googleusercontent.com/-p...5BUNSET%5D.png
Yesterday the pair breached the upper limit of a converging triangle course now, after a long sideways consolidation with the opening of the European session began resuming its northern growth was the formation of a parabolic circle in breaking resistance 98.25 add another purchase.
Intraday bias in USD/JPY remains mildly on the upside for 99.94. But then, decisive break there is needed to confirm up trend resumption. Or consolidation from there would still extend with more choppy sideway trading. Break of 100 should send USD/JPY to 161.8% projection of 77.13 to 96.70 from 92.56 at 104.65. Meanwhile, below 97.00 will turn bias to the downside for deeper fall. But in that case, downside should be contained by 95.74 and bring rebound.