USDJPY 2015-06-09

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USD/JPY: 124.15

Yen Breakout ! can not ignore the buying pressure …

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 , now the buying pressure still exist and accumulated which mean the way is open for the market to reach the levels of 125/126 ; however , by the recent development we do expect the market to enter a range phase between the levels of 123/126

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 1 123.80 125.80
Level 2 122.50 126.20
Level 3 121.50 127.00

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