USDJPY Forecast October 21, 2015, Technical Analysis
The USDJPY pair broke higher during the course of the session on Tuesday, testing the 120 level.
The USDJPY pair broke higher during the course of the session on Tuesday, testing the 120 level.
The USDJPY pair initially fell significantly during the course of the session on Thursday, but as you can see bounced rather significantly off of the 118 handle. With that being the case, the market has formed a hammer and it now looks as if we can break above the top of that hammer,
USDJPY has been making higher lows and lower highs, creating a symmetrical triangle on its 1-hour time frame. Price just bounced off the triangle resistance and is currently testing support, still awaiting a bounce or a breakdown.
Fukushima. However, the Japanese public seemed to take responsibility and handled it with class and dignity.
The USDJPY pair did very little during the session on Wednesday, as we continue to bounce around the 123 handle.
EURJPY (quote) has been moving sideways since the start of the month, as price found support at the 139.00 major psychological level and resistance near 141.00.
USDJPY’s downward movement from 1.2202 extended to as low as 118.33.
USDJPY remains in uptrend from 101.06 (Jul 10, 2014 low), the sideways movement
The USDJPY pair took off during the session on Friday as the nonfarm payroll number came out much better than anticipated.
USDJPY remains in short term uptrend from 115.56, further rise to test 121.84 resistance could be expected,