Printable View
After a strong bearish direction in the past few hours as shown in H4 chart , the pair couldn't break the support level @38.2% so i think it will make some correction and will rise in the next few hours till reach the fibo level @23.6% and make retest ,
Attachment 1792
USDJPY By the time I make this post this pair is around 79. 63/66 (-0.03%) The main pivot point based on classic calculation is 80.34. The other ones are: R1 80.67, R2 80.91, R3 81.25, S1 80.179.76, S3 79.52.The EMA20 is at 79.6551 indicating that we should look to Neutral. The ADX is telling that the trend is Neutral. Also the CCI is indicating that we should look to Buy. The MACD indicator is at -0.0008 pointing that we are in a Buy situation.
http://img717.imageshack.us/img717/535/usdjpyeu.png
After it broke the resistance level @ 79.85 (50.0%) , the pair has continued moving down and i expect more slight drop until it reach the upward trend shown on the included chart , the pair on this case will make a retest then it will reverse its direction and move up bullishly again , so buy now with large stop loss below the trend line or wait until the pair hit the trend but the second case is not ensured to happen , Good Luck
from the H4 chart it is obvious that there is a support level @79.54 so i suggest buying this pair if the support level is broken we can wait until reaching the moving up trend where we can buy .
The form price pair USDJPY summit at the level of 80.62 on the chart chart currency Frame 4 hours and are more likely to be reduced further in a few days to come, the next target may be around the region 79.00 on the other side may be landing the initiator of 80.62 is just a correction to consolidate the upward trend the initiator of 77.66 and as long as the trading firm support above 79.00 is expected to rise in price at some time later to the region after completing the 83.00 patch.
Dollar / yen pair was able yesterday to close under the previous levels of support which makes us predict more downward
http://hh7.an3m1.com/Sep/an3m1.com_edfd44c31c1.png
At the 4 hour chart for this pair is very well marked channel in which the exchange rate, the price yesterday, strayed from the upper border and now goes to the inclined support level from which most likely will again retreat to the north.
USD/JPY has currently cut nearly 50 pips downwards but its intraday bias remains neutral. Above 80.61 the pair could aim for 81.49 and more. Meanwhile, below 78.60 the pair could chop down till 77.66 and more.
USDJPY At this precise moment this pair is around 79. 35/38 (-0.38%). looking at the indicator Moving Average Convergence Divergence (MACD) we can see it is at 0.0784 indicating that we should be in a Sell situation. Also the Exponential Moving Average period 20 is moving at 79.49, indicating that we are in a Sell trend. For now today extreme levels are: High 79.81 Low 79.23. Today main pivot point is 79.91.
A couple in the last few hours had fallen very much in the south, after such strong movements have a high probability of early correction of the north, a course close to the lower boundary of the Ichimoku cloud around him formed by support which I think will grow.