USDJPY 2015-02-18

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USD/JPY: 119.30

Japanese Yen on uptrend wave

Short-run

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

market managed to hit 120.45 last week before market retreated fast on speculation that Yen may halt his depreciation against Dollar this year

so far indicators still seeing ability for market to hold trading zone between 121.50 – 113.80

market still holding chance to sustain advance to test 121.20-50 zone , while as long as market holding trades below 121.85 expect another drop correction toward 113.85

first support zone at 118.35 where as long as market holding trades above this zone expect 121.20-50

Daily Trend: Up
Weekly Trend: Up

  Support Resistence
Level 1 118.35 120.45
Level 2 117.15 121.20-50
Level 3 116.00 121.85

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