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    Technical analysis for the USDJPY on 14.05.2015

    The USDJPY: the uptrend has turned down

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 120 pips Max. 120.30

    Min. 118.00

    usdjpy7

    The uptrend has rapidly turned down without reaching the last week’s high at. The price broke the ascending trend line at 119.65 and support at 119.20.

    Recent support of 119.20 is now acting as a strong resistance. Short-term consolidation below this barrier will most likely trigger a bounce down.

    Potential decline target is situated at the intraday support of 118.60, which has pushed the price up several times.

    Alternative scenario: continuing consolidation below the 119.20 resistance is probable.

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

    The USDJPY: the uptrend has turned down

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 120 pips Max. 120.30

    Min. 118.00

    usdjpy7

    The uptrend has rapidly turned down without reaching the last week’s high at. The price broke the ascending trend line at 119.65 and support at 119.20.

    Recent support of 119.20 is now acting as a strong resistance. Short-term consolidation below this barrier will most likely trigger a bounce down.

    Potential decline target is situated at the intraday support of 118.60, which has pushed the price up several times.

    Alternative scenario: continuing consolidation below the 119.20 resistance is probable.

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


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