USDJPY Forecast April 25, 2014, Technical Analysis
The USDJPY pair fell during the bulk of the session on Thursday, but found enough support right around the 102 level to turn things back around and form a hammer.
The USDJPY pair fell during the bulk of the session on Thursday, but found enough support right around the 102 level to turn things back around and form a hammer.
USDJPY remains in downtrend from 104.12. Further decline is still possible after a minor consolidation, and next target would be at 100.50 area.
USDJPY is facing the support of the lower line of the price channel on 4-hour chart.
USDJPY remains in uptrend from 101.20, the fall from 104.12 is likely consolidation of the uptrend.
The USDJPY pair tried to rally during the session on Thursday, but as you can see lost most of the gains by the time we closed at the end of the day. The 104 level proved to be rather resistive, so the fact that we pullback and formed a shooting star suggests that we are in fact going to see some type of pullback at this point in time.
The USDJPY pair rose during the session on Tuesday, shooting straight up in the air.
The USD/JPY pair fell during the bulk of the session on Wednesday, but as you can see found enough support in order to turn things back around and bounce above the 102 level.
The USD/JPY pair initially fell during the first part of the Monday session, but as you can see spent the rest of the day bouncing in order to form a hammer.
USDJPY broke below 101.38 support, indicating that the uptrend from 100.75 had completed.
The USD/JPY pair initially fell during the session on Friday, but as you can see found enough support at the 102 level in order to go higher and form a hammer yet again.