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Daily forecast: USDJPY 29 Oct. 2014.
Technical analysis for Daily forecast of USDJPY 29 October, 2014. In Daily chart USDJPY shows bullish trend. At present USDJPY above the pivot point and going towards the 1st resistance level. If 1st resistance level breaks then next strong resistance level is 109.124.
Pivot: 107.999
Resistance levels
R1 108.316
R2 108.489
R3 108.806
R4 109.124
Support levels
S1 107.826
S2 107.509
S3 107.336
S4 107.164
Attachment 12053
According to the chart of USDJPY there are a main up trend signal as the 2 EMA 5 and 6 moving Above the slow EMA of 35 then I guess I will take a buy positions once the other indicators confirm the bullish direction.
There are a dots below the candles for parabolic sar indicator to indicate a upward direction and also I can monitor a buy signal on the MACD indicator which moving above the level 0 for now beside the CCI line is at the Higher level to perform a upward signal.
As I said before according to the EMA locations buying is my favorite side for today as long as the price didn’t show any opposite bearish signals.
http://bigimage.cz/photos/20010110979113186349684.gif .
the USDJPY pair for today seems to be on bearish trend according to the red color of the Super trend which is my main indicator to determine the market direction.
Also the Nonlog dot is red colored which indicate a sell signal by the way.
Now the signals show a strong bearish trend and a sell trades can take a place as long as the signals remain the same.
For the stop loss area I think there are 2 ways to exit if the super trend changes its color to be green or if the price hits the resistance at the area of 107.85 which may mean that the bearish direction is over.
http://bigimage.cz/photos/20010109979027361156359.gif .
A clear cross is occurs on the momentum indicator on the USDJPY chart as the blue line goes below the red one to perform a good selling signals for the current time By the way the red color is shown on the Oracle Strength indicator and then it can be considered as a downward direction signal for the USDJPY To add strength to the direction the Oracle direction indicator should be useful and by a quick look you can see the red color on the arrows to perform a downward signal on the short term Now according to these data I think a downward trend should be in action as long as the momentum sell cross still on the chart and a sell trades can be taken as long as the ATR indicator keep showing a selling signals.
http://bigimage.cz/photos/20010110979115000163850.gif .
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analysis for today 10 / 29 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle USD/JPY on the date 10 / 28 / 2014
OPEN 107.81
HIGH 107.17
LOW 107.68
CLOSED 108.15
The third resistance (R3) 107.17 - ( 107.67 - 107.68 = -0.01 x 2 = -0.03 )= 107.14
The second Resistance (R2) 107.67 + 107.17 - 107.68 = 107.16
First resistance (R1) 107.67 x 2 = 215.33 - 107.68 = 107.65
pivot points 107.17 + 107.68 + 108.15 = 323.00 / 3 = 107.67
Support for the first (S1) 107.67 x 2 = 215.33 - 107.17 = 108.16
Support second (S2) 107.67 - ( 107.17 - 107.68 = -0.51 ) = 108.18
Third Support (S3) 107.68 - ( 107.17 - 107.67 = -0.50 x 2 = -0.99 )= 108.67
The price hits the higher level of donchin channel on the USDJPY chart to perform a probably of bearish trend start by today As you can see the price is actually moving at bullish trend because of the up channel for today About the Awesome oscillator there are a bearish sign by having a red colored bars located a the 0 th level A quick look to the stostatic can inform you by a sell signal as the price near the level of 80 and there is a bearish cross between the two lines As a result of the previous signals I can bet on the bearish side by taking a sell trades wishing that the price reach the low edge of Donchin level which can be used as a good area for closing sell trades in profit http://bigimage.cz/photos/20010110979114908170173.gif
As you can see on the chart of USDJPY the prices is now lower than the EMA line of 15 which could be used as a good sign of bearish trend for today.
Also the power line indicator is now above the 50 level which indicates a good upward direction signal.
One important thing else is the power momentum indicator which as you can see show a high power of the bearish trend which can be used to filter the entry of sell positions.
http://bigimage.cz/photos/20010110979115880137086.gif .
brother g han ya wala pair downtrend ke movement par hain par agar ye 80.71 touch hota hai to 81.21 tak jaa sakta hain. Maine 80.66 me sell kiya tha aur 80.12 me closed kar diya ap nay..
A week bearish trend take a place on the hourly chart of the USDJPY as the Blade oscillator is now at 0.058 area below the level of balance and at the same time the indicator is blue colored which is a week indication of bearish direction on the short term. On the chart itself you can see the moving average 5 sloping down and then you can consider the last top drawn by it at 108.09 as a good stop loss if you need it in case of sell orders which is very advised according to the indicators signals. http://bigimage.cz/photos/20010110979116615105561.gif
A bearish trend is now in action as you can see the red arrow shown on the hourly USDJPY chart at the current time which is supported with a top located at 108.2 which can be also used as a very strong resistance that the price shouldn’t go above it if the bearish trend still strong.
Also the parabolic sar dots is showing below the candles which is a sign that the price is heading up for a while.
when selling trades take a place I think then the support 107.95 can be a good area in order to close some open positions as the price has a good chance to go north after hitting it.
http://bigimage.cz/photos/20010101978308760370513.gif .