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Technical analysis for the USDJPY on 13.11.2015

The USDJPY keeps correcting to the downside

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 140 pips Max. 124.00
Min. 121.50

usdjpy2

The US dollar has been correcting against the Japanese yen from 123.60 resistance for the whole week. Correction down is taking place amid low volumes, which indicates weakening bearish potential.

The price aims to test the ascending channel’s lower border at 122.10. The approach to this barrier will most likely trigger consolidation, followed by the rebound up.

Potential growth targets are situated at 123.00, 123.60. The breakout above 123.60 will trigger continuation of the medium-term bullish trend towards the targets at 124.00, 125.25.

Alternative scenario:

Grwoth will recommence from the current positions if price breaks resistance at 123.60. The breakout of this barrier will open the way to the above mentioned targets.

 

Dear traders, please post your comments to our forecasts and share your own opinion. Your ideas can be very helpful for the newcomers. Thank you!

The USDJPY keeps correcting to the downside

Direction Period Expected price movement Price movement corridor
↓↑ 1 day ≈ 140 pips Max. 124.00
Min. 121.50

usdjpy2

The US dollar has been correcting against the Japanese yen from 123.60 resistance for the whole week. Correction down is taking place amid low volumes, which indicates weakening bearish potential.

The price aims to test the ascending channel’s lower border at 122.10. The approach to this barrier will most likely trigger consolidation, followed by the rebound up.

Potential growth targets are situated at 123.00, 123.60. The breakout above 123.60 will trigger continuation of the medium-term bullish trend towards the targets at 124.00, 125.25.

Alternative scenario:

Grwoth will recommence from the current positions if price breaks resistance at 123.60. The breakout of this barrier will open the way to the above mentioned targets.

 

Dear traders, please post your comments to our forecasts and share your own opinion. Your ideas can be very helpful for the newcomers. Thank you!



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