USDJPY 2014-11-04

Nov 04, 1:38 pm

USD/JPY: 113.40

Japanese Yen on uptrend wave

Short-run
market managed to accelerate advance as BOJ is ready to sustain Quantitative easing by buying every bonds that Government may issue in pursuing to spur Inflation in the region .

market managed to sustain advance toward 114.20 where market facing resistance of 114.65

as long as market holding trades above 110.00 the uptrend may sustain advance toward 114.65 , while below 110.00 market may enter our expect trading zone between 105.50 – 112.00

Long-Run

as long as market holding trades above 100.60 the long-run uptrend wave will sustain this year

Daily Trend: Up
Weekly Trend: Up

  Support Resistence
Level 1 111.00 113.50
Level 2 110.00 114.65
Level 3 107.70 115.20
Short-term strategy: flat
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