USDJPY 2015-05-29

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USD/JPY: 123.87

Yen Breakout !

Market has penetrated the resistance level of 121.50 and the consolidation pattern as well , and succeeded to confirm breaching the previously recorded top, which opens the way towards the continuation of the main bullish trend , waiting for surpassing 124.00 level initially, which will open the way towards extending the positive targets towards 125.10.

On the longer -term : still the bull wave in effect as long as market is trading higher than 115 levels , targeting 125/128 levels – buying in dip would be the most strategy used by the markets on that pairs on the long targeted investment choice.

The chart analysis provided for mid-term view

Daily Trend: UP
Weekly Trend: Up

  Support Resistence
Level 1 122.50 124.20
Level 2 121.50 125.50
Level 3 120.50 126.30

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