USDJPY 2015-01-07

Posted on

USD/JPY: 119.10

Japanese Yen on uptrend wave

Short-run

market managed to obtain drop correction after testing resistance level of 120.80 , where market managed to hit 118.05 low yesterday

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

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 1 118.05 120.80
Level 2 116.90 121.85
Level 3 116.00 122.80
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