USDJPY 2015-04-16

Apr 16 2015, 12:10 pm

USD/JPY: 119.04

Japanese Yen consolidate further – breakout soon to catch up the market movement

as market has recorded a higher price over 120 yen per us dollar , the upward for the longer term view is more probable , however , the market of this pair is also trading in a range awaiting more data to decide its mid-term course of action – so we do expect and see a range market sloping upward on the short-view. However , 121.50 considered the major mid-term resistance the breakout of that levels ( which is the most probable ) would push the market further upward .

On the longer -term : still the bull wave in effect as long as market is trading higher than 115 levels , targeting 125/128 levels – buying in dip would be the most strategy used by the markets on that pairs on the long targeted investment choice.

Daily Trend: Up
Weekly Trend: Up

  Support Resistence
Level 1 118.30 119.50
Level 2 117.76 120.80
Level 3 116.80 121.50
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