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    Technical analysis for the USD/JPY – 23.10.2015

    Growth in this pair continued, as expected. The price rose to the next target at 121.00. The barrier turned out to be a strong resistance, it pushed the price down and it’s currently pulling back down. Trading is carried out at 120.30/40. The indicators are unclear – both R% and MACD are falling, while SS remains overbought. This obviously suggests that current decline is a correction, and growth will soon recommence. Earlier expectations are still relevant – if price breaks and holds above 121.00 resistance, it’ll indicate that the triangle (red lines) has formed and give reasons to expect the next closest target at 122.40 to be tested any time soon. Decline below the 120.10/00 mark, which has become a strong support, will indicate weakening bullish potential.

    JPY231015

    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!

    Growth in this pair continued, as expected. The price rose to the next target at 121.00. The barrier turned out to be a strong resistance, it pushed the price down and it’s currently pulling back down. Trading is carried out at 120.30/40. The indicators are unclear – both R% and MACD are falling, while SS remains overbought. This obviously suggests that current decline is a correction, and growth will soon recommence. Earlier expectations are still relevant – if price breaks and holds above 121.00 resistance, it’ll indicate that the triangle (red lines) has formed and give reasons to expect the next closest target at 122.40 to be tested any time soon. Decline below the 120.10/00 mark, which has become a strong support, will indicate weakening bullish potential.

    JPY231015

    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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