USDJPY 2015-03-25

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USD/JPY: 119.40

Japanese Yen on uptrend wave – Buy in Dip

Market now on the testing phase on the symmetrical triangle on the daily chart as shown . The market after retested the previous high of 121s levels back again to re-test the broken continuation pattern . 119.50 /119.00 represent support area if market successfully rebound from that levels and crossed 120.50 then a more advance is expected to reach a level higher than the previous peak ; but if market declined more and entered the pattern once again ( less probable scenario ) then a range market would be the title for the coming weeks , a range between 121.50s levels and 115.80

Daily Trend: Up
Weekly Trend: Up

  Support Resistence
Level 1 119.20 120.50
Level 2 118.50 121.20
Level 3 117.80 122.50

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