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The 4 hour chart 50SMA down, 15EMA to form the support; the overall market partial short pattern; the current market has rebounded to key positions, K-line form display rebound strong; suggested that the investor patience K line reversal patterns more after looking for short trading opportunities. Pay attention to pressure 102.40, 103, 102 support, 101.50
Basically, USDJPY has been rejected by the resistance level at 102.24. But I think the rejection is not too strong. But although like that, USDJPY has a potential to fall and reach the support level at 101.91. But if USDJPY can rise and break 102.24 resistance, this pair will goes up to the next resistance level at 102.60.
Daily analysis for USDJPY
correction zigzag 102.73, lower, new daily low close to first daily support 101.91
Elliott 101.33
Closing 102.23
Ex-Low 101.81
Ex-High 102.36
Support 1 101.90
Support 2 101.59
Resistance 1 102.47
Resistance 2 102.68
:)
Trading analysis for 17th April, 2014. In Daily chart USDJPY shows bearish trend started. At present the price is below the pivot point and break first support level. If USDJPY continue to go downward then its next strong support level is 101.121.
Pivot: 1.67765
Resistance levels
R1 102.445
R2 102.672
R3 102.994
R4 103.317
Support levels
S1 101.896
S2 101.574
S3 101.347
S4 101.121
Attachment 10706
Daily analysis for USDJPY 17-04-2014
Uptrend is still intact in a triangle configuration. It should continue to rally to 102.41 or 102.46 if support around 102.14 hold. After which a pullback to 102.14 - 102.02 zone is possible.
Key Point 102.39
Entry Point 102.11
Trendline 1 101.77
Trendline 2 102.12
Support 1 101.91
Support 2 101.58
Resistance 1 102.46
Resistance 2 102.69
same as the other -the USDJPY also flat no op if price move still between 101.80 till 102.36. and wise buy after break up happen to above 102.36 then.
USD JPY stands below its resistance and remains under pressure. My preference: Short positions below 102.4 with targets @ 101.65 & 101.45 in extension. Alternative scenario: Above 102.4 look for further upside with 102.6 & 103 as targets.
Today the pair USD / JPY resumed growth and rose to the level of price 102.45 but as the pair did not break this level and indicator macd on H1 chart for signals, then the pair may continue to rise and rise to the level of 102.70.
Daily analysis for USDJPY
USDJPY zigzag or flat correction 103.06, No Pivot Points have been reached.
Elliott 101.33
Closing 102.39
Ex-Low 101.87
Ex-High 102.47
Support 1 102.03
Support 2 101.65
Resistance 1 102.63
Resistance 2 102.85
:doubt:
Fundamentals, Japan March family consumer confidence index 37.5, and at least 21 months prior to the lowest value, 38.3; the Bank of Japan in the quarterly report, maintain economic evaluation of eight areas of nine regions in a sustained economic recovery, say, or has been a moderate recovery trend. Technical level, 4 hour chart 50SMA down, 15EMA upward trend line support; maintain good support; K - line form to show a rebound kinetic energy is sufficient; days is expected to continue upward, the proposed wait-and-see. Pay attention to pressure 102.40, 103, 102 support, 101.50