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    Technical analysis for the USDJPY on 09.07.2015

    The USDJPY: downtrend is strengthening

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 145 pips Max. 122.00

    Min. 120.00

    usdjpy3

    The US dollar dropped 200 pips against the yen yesterday. Decline was followed by the breakout of strong support at 122.00.

    The price is currently correcting from the 120.40 support. The main correction target is situated at tough resistance of 122.00, which is crossed by the descending trend line.

    The test of 122.00 resistance will most likely trigger consolidation, followed by the bounce down and continuation of the downtrend towards 121.00, 120.40, 120.00.

    Alternative scenario: the breakout of 122.00 resistance will open the way up towards 122.45, 123.00.

    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: downtrend is strengthening

    Direction Period Expected price movement Price movement corridor
    ↓↑ 1 day ≈ 145 pips Max. 122.00

    Min. 120.00

    usdjpy3

    The US dollar dropped 200 pips against the yen yesterday. Decline was followed by the breakout of strong support at 122.00.

    The price is currently correcting from the 120.40 support. The main correction target is situated at tough resistance of 122.00, which is crossed by the descending trend line.

    The test of 122.00 resistance will most likely trigger consolidation, followed by the bounce down and continuation of the downtrend towards 121.00, 120.40, 120.00.

    Alternative scenario: the breakout of 122.00 resistance will open the way up towards 122.45, 123.00.

    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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