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usd/jpy technical analysis by using : average directional movement index wilder(14) & average directional movement index(14) on 08.08.13
timeframe : 1 hour
time : 1600
market trand : down
adx wilder(14) level
style : 36.96
+di : 11.30
-di : 25.71
adx(14) level
adx : 19.08
+di : 8.93
-di : 14.44
Couple on the daily chart has already draws the southern formation ... is seen that the second peak is lower than the first and the breakdown of local-level support that leads to the bottom front of the couple opened a blank space for the continuation of the fall, so that the image appears to think that the goal for the fall could be around to 94.10
today i like to buy this pair @ 95.90
my stop loss of the day @ 95.60
half take profit for today @ 96.20
and further half take profit @ 96.45
USD/JPY analysis by using pivot indicator. (H4)
R3 98.289
R2 97.723
R1 97.373
pivot 96.807
S1 96.241
S2 95.891
S3 95.325
The pair still reached 38go fibourovnya of which is still a small rebound, according to the index of the dollar still has a power reserve of all the same down to the levels of 95.44 and 95.07, so there will likely decline is possible and will end, although we must look upon achievement levels, although 95yu are as expected still achieved.
As you see in my following chart, the pair traded between a high of 97.81 and a low of 96.31 closed at 96.33. Today the pair trades below the resistance line of 97.60.
Downside Scenario: USDJPY could decline into the levels of 96.15, then 95.40, if the resistance line of 97.60 holds.
Upside Scenario: upside penetration of the resistance line of 97.60, could help the pair to see the levels of 98.10, then 98.90
http://4.bp.blogspot.com/-bQdlEtbu_C.../s1600/jpy.jpg
elliott extension wave down 95.57 market should not go lower than 95.55 after this move down it should go up to 97.32 area
warming end of trend - imminent end of bearish move
support and resistancse
res2 98.30
res1 97.32
piovt 96.82
sup1 95.84
sup2 95.34
usd/jpy forecast:
from H1 chart we can see the price is moving above the MA(15) and it is trying to break resistance at 96.65 (MA(50)). but from H4 chart we can see MA(15) is playing as a barrier to prevent the price go up and it is around 96.77.
so it is wisely to wait until the price break through 96.77 area and open the buy entry with stop loss at 96.63 and take profit at 97.40.
another scenario is the price failed to break through 96.77 area and going down. below 96.40 should place sell entry with stop loss at 96.55 and take profit at 95.90
good luck...
the pair USD / JPY yesterday the price went projected. After an industrious pair continued bearish movement of more than 480 points. Today, I continue to consider only sales. on the four-hour timeframe all indicators remain a sell signal. the h1 timeframe indicator already started to signal to buy, but I think it will unfold. You can venture to sell 96.75 stop 97.20
usd/jpy technical analysis by using : average directional movement
index wilder(14) & average directional movement index(14)
on 09.08.13
timeframe : 1 hour
time : 1100
market trand : down
adx wilder(14) level
style : 19.20
+di : 22.87
-di : 16.87
adx(14) level
adx : 31.41
+di : 20.26
-di : 9.38