USDJPY 2015-01-19

Posted on

USD/JPY: 117.25

Japanese Yen on uptrend wave

Short-run

market managed to obtain drop correction after testing resistance level of 120.80

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 which already done last week

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

as long as market holding trades below 118.10 the downtrend will sustain toward 113.80, above 118.10 market may start to build rebound market toward 121.20 zone

Daily Trend: Up
Weekly Trend: Up

  Support Resistence
Level 1 116.50 118.10
Level 2 115.50 118.85
Level 3 114.50 119.95
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