USDJPY 2014-12-09

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USD/JPY: 120.00

Japanese Yen on uptrend wave

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


as we see over the chart, market still holding trades inside short-run uptrend channel , where support laying at 119.00 and resistance at 123.30-50 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 good opportunity to short-sell market at 124.00 zone

as long as market holding trades above 119.00 zone market may sustain advance toward 123.25-50 zone

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 1 119.00 121.80
Level 2 117.85 122.80
Level 3 117.20 123.25-50


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