USDJPY 2014-11-28

Nov 28, 12:30 pm

USD/JPY: 118.20

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 already done toward 117.90, while market sustain uptrend movement where last week managed to test 118.90 zone
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
As market trading on the overbought zone , the pair may give opportunity to short-sell market at 2 places , first one 121.00 , while second zone is 124.00
Short-run trading zone would be expected between 116.50 – 119.50

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 1 117.25 119.00
Level 2 116.50 119.95
Level 3 115.75 121.35
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