USDJPY 2014-11-17

Nov 17 2014, 12:30 pm

USD/JPY: 116.25

Japanese Yen on uptrend wave

Short-run

market faced fast drop movement over the pair today as data from Japan showed Japanese economy already under recission

market jumped into safe haven as U.S Dollar & Japanese Yen as market demand Bonds

as long as market holding trades above 110.00 the uptrend may sustain advance where targets would be 116.50 (already done) and 117.90

market now trading inside overbought zone which may hit the market for drop correction movement , where 110.00 would be the main support on market

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 1 114.85 117.00
Level 2 113.85 117.90
Level 3 112.60 118.50
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