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The pair intraday analysis at H1 using williams percentage range and moving average are showing the pair may continue the bearish trend. It may fall today. Try to find good resistance and set short order on it. Today SNR :
R3 : 101.76
R2 : 101.26
R1 : 100.47
Pivot level : 99.85
S1 : 99.05
S2 : 98.47
S3 : 97.72
The USD/JPY has broken down the 99.78 support. We decide that level should be our next near term resistance. If price retraced back to that level and rejected it then we would find a short opportunity.
Usd/jpy pivot levels for 23.07.2013 by using fibonacci pivot indicator.
resistant 1:101.20
resistant 2:100.69
resistant 3:100.37
pivot point :99.86
support 1:99.34
support 2:99.03
support 3:98.51
neutral territory for the usdjpy as I have mentioned in my earlier post that usd/jpy need to clear atleast 98.50 for any bearish momentum But rally with a break above 100.50 has been faided But I always favour the bearish price to dominate soon but test of 101.56 is still a possibility
regards
USD/JPY pair on the H1 chart downward correction is completed by my analysis, you can now buy more, stop to put on a level of 99.00 the first objective will be to strengthen the level immediately above the 99.83 level and does not try to completely roll back to the 99.55 level after which the 100.40
time frame- H1
the price is moving in the down trend. it is breka the support at the 99.75 but not break the 99.35. the price is making some doji patterns and the parabolic sar is also giving us long trend signal. we can long this pair with the take profit at 99.90 and stop loss at the 99.00
good luck
As you see in my following attached chart, the pair traded between a high of 100.62 and a low of 99.28 closed at 99.66. Today the pair trades below the resistance line of 100.15.
Downside Scenario: USDJPY could decline into the levels of 99.00, then 98.40, if the resistance line of 100.15 holds.
Upside Scenario: upside penetration of the resistance line of 100.15, could help the pair to see the levels of 100.65, then 101.10
http://1.bp.blogspot.com/-Y8IKOwNjGm.../s1600/jpy.jpg
today i like to sell this pair @ 99.96
my stop loss of the day @ 100.16
half take profit for today @ 99.60
and further half take profit @ 99.36
I think on the pattern of breakdown / reversal. On July 23. In a pair of USDJPY, now after the fall and rebound of support is at 99.14 yesterday, despite the increase in volatility selling, all that seems to be a battle for the level, and also in the last days of selling a solid seller, according to TD the last two days of support 99.14, resistance 100.61, 100.42 frame, volatility in the last 7 days 1.99, I think that would be a break-down. Justification of the forecast - high volatility and the current price is below the benchmark.
On usd / jpy personally I expect the development of the southern scenario now clearly visible bearish channel, namely the upper boundary of which came close a couple (point-touch 100.10 100.00 figure), MACD is located in the upper zone, there is a good chance to reduce the area of the mid-channel 99.60 (horizontal support).