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The short term trend of the pair is to the upside. Intraday trading range of the pair is expected among key support at 77.60 and key resistance at 80.30. Based upon my chart analysis, I prefer to selling the pair around 79.25 with target 78.20 and stoploss is above 80.10.
JPY after the pair broke through the lower boundary of the triangle - the level of 79.15, is now a couple came over and tested the strength of this resistance, then the pair continues to fall, the goal of 78.00.
short positions at 78.9380with 78.7760 and 78.5840 as next targets
the breakout of 79.0700 will call for arebound towards 79.2520
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couple had just walked up to the blue slide and Ichimoku strayed away to the south, also on the hourly time frame Ichimoku signal shows three lines signal the continuation of the southern movement.
Apparently a couple continues to keep the South Course, worked pretty good resistance 79.20, and the couple had already wrapped down ... so we will wait for the breakdown level of 78.70 ... and then go to the goal of 78.00 ....
now usd is most strong rate.i think usd/jpy go to 79.15
from the shown H4 chart , i think that if the pair could break and close below the support level @fibo 61.8% then we can sell with a small stop lose few pips above 61.8% ,if it break 61.8 i expect we will have more bearish direction for this pair in the next few hours ,
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The short term trend of the pair is to the upside. Intraday trading range of the pair is expected among key support at 77.00 and key resistance at 80.10. Based upon my chart analysis, I prefer to stay aside from the pair until we get a confirm setup for the upcoming big move.
The pair now has made a serious bid on the southern fall, she was able to break through the mid-term support level of 78.63, paving her way to the next level of support 77.68, to which there are no obstacles.