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10, November 2014
USD/JPY (a 4-hour chart)
The dollar/yen managed to break the level of 114.60 upwards and consolidate above. Currently the pair is testing the support level of 114.60.
The price is finding the first support at 114.60, the next one is at 113.50. The price is finding the resistance at 115.80.
Trading recommendations
The pair is close to the strong resistance 115.80. The price rebounds from this mark.
http://dl.dropbox.com/u/51561036/scr...110-221332.jpg
pair- usd/jpy
analysis time frame- m15
http://i61.tinypic.com/2eofxuh.jpg
the down movement of the price is break resistance trend line as supporting level 114.00 the rsi indicator is showing overbought as moving level 70 so again its movement in the major trend can expected. hold the short entry with stop loss at 114.50
good luck.
The USD/JPY recovers from associate degree intraday low of 113.85 denote early Europe, with the one hour chart showing worth approaching its a hundred SMA from below, immediate resistance at 114.50 and indicators aiming higher still in negative territory. within the four hours chart indicators advance steady crossing higher than their mid-lines, suggesting any gains for the day, furthermore if worth manages to beat mentioned resistance.
the price seems to move in upward trend today on the USDJPY chart as there are a blue dots below the bars and as long as the price keeps higher than the strong support of 112.9267 which is also the weekly Pivot point then it seems that the price may keep going north till it can hit the weekly pivot resistance at 115.9467 .
In other scenario if the price can break the support 112.9267 and get a bearish signals by a red dots then it’s expected to keep going south till the support of 111.2333 as the next weekly Pivot point.
http://bigimage.cz/photos/20010123980208164120854.gif .
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time chart:1w
price go down to moving average
price:95.36
sell:93.36
point:200pips
Daily Forecast
Pair: USDJPY
Major Trend: NEUTRAL
Time Frame: H4
Reason: 3times, price forms converging on the RSI and the 50 line can not be broken. Chances are the price will retest on 115.57 as resistance
Recommendation: Buy Limit at 114.54 with targets 115.57
http://prntscr.com/557gh3
analysis for today 11 / 11 / 2014
Below is the formula to determine the pivot point, support and resistance.
Information candle USD/JPY on the date 11 / 10 / 2014
OPEN 114.51
HIGH 114.90
LOW 113.89
CLOSED 114.85
The third resistance (R3) 114.90 - ( 114.55 - 113.89 = 0.66 x 2 = 1.31 )= 116.21
The second Resistance (R2) 114.55 + 114.90 - 113.89 = 115.56
First resistance (R1) 114.55 x 2 = 229.09 - 113.89 = 115.20
pivot points 114.90 + 113.89 + 114.85 = 343.64 / 3 = 114.55
Support for the first (S1) 114.55 x 2 = 229.09 - 114.90 = 114.19
Support second (S2) 114.55 - ( 114.90 - 113.89 = 1.01 ) = 113.54
Third Support (S3) 113.89 - ( 114.90 - 114.55 = 0.35 x 2 = 0.71 )= 113.18
pair- usd/jpy
analysis time frame- m15
http://i59.tinypic.com/219x7xi.jpg
the price is in the up trend side but its making correction from the resistance at 116.10 level and making doji patterns. the rsi indicator is also moving down side. if this is break the 115.55 level then short with take profit at 114.80 and stop loss at the 116.50
good luck.
Japanese accounting looked solid, because the accounting surplus improved to JPY zero.41 trillion. This simply beat the estimate of JPY zero.03 trillion and marked the very best surplus since August 2013. Despite the great news, the yen continues to slip, surrendering a noteworthy 800 points in mere fortnight. USD/JPY is near seven-year highs, and with the BoJ increasing input, the yen’s disappearing act may well continue.
the price seems to move in upward trend today on the USDJPY chart as there are a blue dots below the bars and as long as the price keeps higher than the strong support of 112.9267 which is also the weekly Pivot point then it seems that the price may keep going north till it can hit the weekly pivot resistance at 115.9467 .
In other scenario if the price can break the support 112.9267 and get a bearish signals by a red dots then it’s expected to keep going south till the support of 111.2333 as the next weekly Pivot point.
http://bigimage.cz/photos/20010124980295606108903.gif .
Spoiler: