USDJPY 2014-12-10

Posted on

USD/JPY: 119.20

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

as we see over the chart, market managed to fell after meeting our first projection short-sell zone of 121.00 , while market went in fast movement yesterday and tested the doors of 118.00

market back to obtain daily close above 119.00 level which placed the 118.00 as the short-run support for the coming trading zone model

as long as market holding trades above 118.00 a trading zone may occur between 118.00 – 122.00 , while below 118.00 market may initiate another drop correction movement which may target 115.00-50 zone

short-run still seeing 121.00 and 124.00 as good places to short-sell 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 1 119.00 121.00
Level 2 117.95 121.80
Level 3 117.20 122.80
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