Daily pivot Fibonacci points: Resistance levels: R1: 99.05 R2: 99.45 R3: 99.72Support levels: S1: 98.70 S2: 99.60 S3: 99.40
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Daily pivot Fibonacci points: Resistance levels: R1: 99.05 R2: 99.45 R3: 99.72Support levels: S1: 98.70 S2: 99.60 S3: 99.40
Our preference: Short positions below 99.3 with targets @ 98.2 & 97.85 in extension.
Alternative scenario: Above 99.3 look for further upside with 100 & 100.4 as targets.
Comment: the RSI is badly directed.
A pair of perfectly fulfilled break of the lower boundary of the triangle, now rate came close to an important support zone consisting of a horizontal support level of 98.49 and 200 moving in the first place from the beginning of the mark waiting for the correction to the area of 99.00 but break of 98.40 with a profit-selling at 97.40, 97.00 .
usd/jpy forecast:
as we can see from hourly chart, this pair has form a downtrend movement. this should continue its fall to the support area around 97.00
current price: 98.56
we can set sell entry with stop loss at 99.00
take profit at: 97.20
good luck...
As you see in my following attached chart, the pair traded between a high of 100.45 and a low of 98.88 closed at 99.26. Today the pair trades below the resistance line of 99.25.
Downside Scenario: USDJPY could decline into the levels of 98.50, then 98.00, if the resistance line of 99.25 holds.
Upside Scenario: upside penetration of the resistance line of 99.25, could help the pair to see the levels of 99.75, then 100.40
http://2.bp.blogspot.com/-C_s9NS9giR.../s1600/jpy.jpg
usd jpy ye pari takreeban aik sal se bying trend me raha he lekin ab ye 95 ko touch kar k wapis 100 tak move kar chuka he or aaj de dobara selling trendin ki taraf move kar chuka he so we can sell from 99.00
USD/JPY
Trading range: 99.05 - 98.40
Trend: Neutral
Sell at 98.94 SL 99.26 TP 98.49
The pair of perfectly fulfilled break of the lower boundary of the triangle, now rate came close to an important support zone consisting of a horizontal support level of 98.50 and 200 moving in the first place from the beginning of the mark waiting for the correction to the area of 99.03 but break of 98. with a profit-selling at 97.38, 97.03 .
The pair formed a very strong signal to the south, the course was able to overcome the strong area of the lower medium-term fractal 99.00 figure and confidence strengthened below it seems is the formation of a new southern waves, now the main objective for the bears is to break through another zone 98.40, it will finally figure 97.00.
today i like to buy this pair @ 98.33
my stop loss of the day @ 98.00
half take profit for today @ 98.50
and further half take profit @ 98.77