USDJPY 2014-12-31

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USD/JPY: 119.40

Japanese Yen on uptrend wave

Short-run

market managed to obtain drop correction after testing resistance level of 120.80 , while market still holding trades above support 119.00-10 zone

as long as market holding trades above 119.00 the short-run uptrend movement will sustain , while any daily close below 119.10 may activate drop movement toward 116.50 and 113.80 levels

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

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 1 119.10 120.80
Level 2 118.25 121.85
Level 3 117.50 122.80

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