USDJPY 2015-01-16
USD/JPY: 116.70
Japanese Yen on uptrend wave
Short-run
market managed to obtain drop correction after testing resistance level of 120.80
market showing ability to sustain the drop correction , where as long as market holding trades below 120.80 the drop pressure will sustain toward 116.00 zone which already done yesterday
market still trying to build a base for farther advance over the med-term , where market face 115.00-50 OR 113.80 which may be the base of the coming uptrend wave
the coming short-run trading zone may have big range deviate between 113.00 – 124.00 zone , where 113.00-80 would consider as good zone to re-long-buy the market
as long as market holding trades below 118.00 the downtrend will sustain toward 113.80, above 118.00 market may start to build rebound 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 | 116.50 | 117.95 |
Level 2 | 115.50 | 118.85 |
Level 3 | 114.50 | 119.95 |