USDJPY 2014-11-06

Nov 06, 1:37 pm

USD/JPY: 114.60

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 above 114.65 where managed today to hit 115.50

as long as market holding trades above 110.00 the uptrend may sustain advance where targets would be 115.90 , 116.50 and 117.90

any daily close below 114.60 may add some pressure over the market to head for some drop correction where main support still at 110.00

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 1 113.25 115.50
Level 2 112.50 115.90
Level 3 111.000 116.45
Short-term strategy: flat
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