Usd/Jpy

Daily analysis for USDJPY
USDJPY flat correction up 102.05, close to daily pivot point 101.41

Elliott 101.11
Closing 101.51
Ex-Low 101.11
Ex-High 101.61

Support 1 101.21
Support 2 100.90
Resistance 1 101.71
Resistance 2 101.91

Trading Signal - 20/05/2014 - 10:00 GMT +3
Instrument: USDJPY
60min CHART
Downwards Weak
The market is testing resistance at 101.60. We are waiting to see reversal signals in order to reinstate SHORT positions. Next important resistance the 101.90 level.
Support & Resistances
101.10 101.60
100.80 101.90
100.30 102.20

http://dl.dropbox.com/u/51561036/scr...520-210945.jpg

USDJPY retained and rejected at full target 101.584, a sell signal appeared after that, indicates that the pair may potentially go down towards pivot range. However if price manage to break full target line, this pair has potency to continue rise towards reverse line at 101.889

USD/JPY analysis for today 5 / 20 / 2014


Resistance 3 102.40
Resistance 2 102.10
Resistance 1 101.90
Pivot Point 101.51
Support 1 100.79
Support 2 100.59
Support 3 100.29

BUY STOP 101.90 STOP LOSS 100.79 TAKE PROFIT 102.10
SELL STOP 100.79 STOP LOSS 101.90 TAKE PROFIT 100.59

Daily technical analysis for USDJPY 21/05/2014
USDJPY looks set to visit further lower territory down to around 101.14. Its corrective attempts should fail ahead of 101.55. Stop loss above 101.78 zone.

Key Point 101.28
Entry Point 101.26
Trendline 1 101.19
Trendline 2 101.28

Support 1 101.14 Support 2 100.96
Resistance 1 101.55 Resistance 2 101.78

analysis for today 5 / 21 / 2014

USD/JPY

Resistance : R1 101.88 R2 102.13 R3 102.33 R4 102.63
Support : S1 100.63 S2 100.38 S3 100.18 S4 99.88

Open : 101.32
High : 101.38
Low : 101.13
Range : 25 Pips
Running Price : 101.22


Strategy : SELL at the level 101.22 stop loss at the level 101.88 target take profit at the level 100.18 or at the level 99.88

analysis for today 5 / 21 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle USD/JPY on the date 5 / 20 / 2014
OPEN 101.49
HIGH 101.59
LOW 101.18
CLOSED 101.32

The third resistance (R3) 101.59 - ( 101.36 - 101.18 = 0.18 x 2 = 0.37 )= 101.96
The second Resistance (R2) 101.36 + 101.59 - 101.18 = 101.77
First resistance (R1) 101.36 x 2 = 202.73 - 101.18 = 101.55
pivot points 101.59 + 101.18 + 101.32 = 304.09 / 3 = 101.36
Support for the first (S1) 101.36 x 2 = 202.73 - 101.59 = 101.14
Support second (S2) 101.36 - ( 101.59 - 101.18 = 0.41 ) = 100.95
Third Support (S3) 101.18 - ( 101.59 - 101.36 = 0.23 x 2 = 0.45 )= 100.73

Daily analysis for USDJPY
USDJPY zigzag or flat correction 101.88, much lower, testing second daily support 100.96

Elliott 101.10
Closing 101.33
Ex-Low 101.19
Ex-High 101.60

Support 1 101.15
Support 2 100.97
Resistance 1 101.56
Resistance 2 101.79

analysis for today 5 / 21 / 2014
USD/JPY (Daily Trade)
I think the movement is still in a bearish trend
retracement (38.2%) 101.34
Retracement (50%) 101.39
retracement (61,8%) 101.43

Extensions (61.8%) 100.93
Extensions (100.0%) 100.77
Extensions (138.2%) 100.61
Extensions (161.8%) 100.52
calculation based on a Fibonacci retracement then today I choose sell

USD/JPY analysis for today 5 / 21 / 2014


Resistance 3 102.43
Resistance 2 102.13
Resistance 1 101.93
Pivot Point 101.32
Support 1 100.58
Support 2 100.38
Support 3 100.08

BUY STOP 101.93 STOP LOSS 100.58 TAKE PROFIT 102.13
SELL STOP 100.58 STOP LOSS 101.93 TAKE PROFIT 100.38