Forex4you - Analytics

    Forex4you

    538.00 7.00/10
    60% of positive reviews
    Real

    Technical analysis for the USDJPY on 18.05.2015

    The USDJPY is consolidating at 119.70 resistance

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 110 pips Max. 120.75

    Min. 118.60

    usdjpy8

    The bulls have pushed the price up to 119.70 resistance for the second time in the last two days. The level is being tested at low volumes again.

    If we take into account how Friday’s trading closed (inverted hammer), today’s session may end the same.

    In case of another rebound from 119.70 resistance, bears will continue their downtrend to the next targets at 119.00, 118.60.

    Alternative scenario: the breakout of 119.70 resistance will open the way up for a test of the descending trend line at 120.10.

    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 is consolidating at 119.70 resistance

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 110 pips Max. 120.75

    Min. 118.60

    usdjpy8

    The bulls have pushed the price up to 119.70 resistance for the second time in the last two days. The level is being tested at low volumes again.

    If we take into account how Friday’s trading closed (inverted hammer), today’s session may end the same.

    In case of another rebound from 119.70 resistance, bears will continue their downtrend to the next targets at 119.00, 118.60.

    Alternative scenario: the breakout of 119.70 resistance will open the way up for a test of the descending trend line at 120.10.

    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!


    To leave a comment you must or Join us


    By visiting our website and services, you agree to the conditions of use of cookies. Learn more
    I agree