Long

USDJPY Technical Analysis

Updated

USDJPY 112.20 Area is Strong Resistance, not break this level then Sell USDJPY 112.20 used Sl 112.50 Take profit 110.95 and 110.00 Area.
Other side of Breakout 112.20 area Buy USDJPY Target 114.00 and 114.80 Area .

Note

Now the question now is whether trend has completely shifted for USD/JPY making 114 more likely to be hit before 110.

In the daily chart USDJPY Broke 200 SMA. But in the weekly chart USDJPY stuck in 200 SMA. And negative trend line resistance near to 112.30/60 area. Technically market has good chance to go for some minor correction near to 111.50 area. Than go up again.

Note

#Upbeat Chinese data kept the mood high in Asia.
#Range trading continues ahead of Thursday's first-tier data.

Support levels: 111.80 111.50 111.20
Resistance levels: 112.15 112.50 112.85

***USDJPY Sell Area 112.20 Stop loss 112.50 Area

Note

Usdjpy sell Area 112.10/20 leve.

Note

The USD/JPY is trading with high volatility during the last 24 hours. Moreover, the rate has begun to largely ignore short term technical levels.

In regards to the near term future, the pair should approach and test the support of the 111.85 level. It should be pushed into the support level by the technical resistance of the 55 and 100-hour simple moving averages.

However, the rate might ignore the SMAs and surge above them and reach the 112.00 level. The pair has done this before.

Trade active

USD/JPY pair maintains a neutral stance, as, in the 4 hours chart, it keeps developing below a directionless 20 SMA, while holding above the larger ones, and as technical indicators stand flat just below their midlines. The pair could gain downward traction on a break below 111.60, the immediate support, while the highs in the 112.10/20 region will likely keep capping the upside today.

Support levels: 111.60 111.25 110.90

Resistance levels: 112.15 112.50 112.85

Daily Fibonacci 38.2% 111.8
Daily Fibonacci 61.8% 111.89
Daily SMA200 111.51

Note

USDJPY Daily movingaverage 200ma 111.50 Level so take a short buy position 111.50/40 Area, take Profit 112.00 level .

Saleh11

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