USDJPY 2014-11-19

Nov 19, 12:36 pm

USD/JPY: 117.60

Japanese Yen on uptrend wave

Dollar/Yen sustain uptrend movement as investors anticipate shinzo abe to win second term on election as prime minister

Short-run

market sustain uptrend movement after Prime minister says to prepare for stimulus

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

while uptrend movement showing resistance at 118.60 and support at 116.00

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

 SupportResistence
Level 1116.00117.90
Level 2115.45118.50-60
Level 3114.00119.80
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