Technical Analysis Daily: USD/JPY
USD/JPY Open 94.45 High 95.84 Low 93.58 Close 94.48
As expected Dollar/Yen continued with its bearish impulse yesterday. The currency couple broke the 94.50 support level, reached the bottom 93.55 and closed the day at 94.48. The short term scenario remains descending, with targets towards 92.50. The CCI indicator is in the oversold zone, and just crossed up the 100 line on 4 hour chart, so we do not exclude potential upward pressure with testing of the resistance level of 95.90.
Technical resistance levels: 95.90 97.15 98.55
Technical support levels: 93.60 92.40 91.25
Trading range: 95.75 - 95.10
Trend: Downward
Sell at 95.61 SL 95.91 TP 95.21
As expected Dollar/Yen continued with its bearish impulse yesterday. The currency couple broke the 94.50 support level, reached the bottom 93.55 and closed the day at 94.48. The short term scenario remains descending, with targets towards 92.50. The CCI indicator is in the oversold zone, and just crossed up the 100 line on 4 hour chart, so we do not exclude potential upward pressure with testing of the resistance level of 95.90.
Technical resistance levels: 95.90 97.15 98.55
Technical support levels: 93.60 92.40 91.25
Trading range: 95.75 - 95.10
Trend: Downward
Sell at 95.61 SL 95.91 TP 95.21
posted by FREDRICK B. A. at
4:22 AM
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