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| Technical Outlook For Usd/Jpy |
Usd-Jpy pair moved yesterday in the average price movement of 110 Pips, it recorded the highest level at 120.45 and the lowest levels at 119.35 levels and closed at 120.34 to Gain 97 pips during yesterday’s trading.
The pair opened today at 120.34 oscillatory between the 120.30 and the 120.69 levels during Asian session in a trading average of 39 pips for the limitation of the market liquidity.
The pair is trading in down corrective waves after breaking the wedge and the pair retested it yesterday and failed to trade inside the wedge.
It is expected that the pair Usd against the Jpy will go to targeted level at 121.30 in the next few hours.
And the Relative Strength Indicator "RSI" show us distribution operations at the market and the control of Bears on the market
We are waiting today for economic data from USA like Trade Balance and Unemployment Claims at 12:15 GMT
Medium term trend: down
Support levels: 119.64 and 118.94 and 118.54
Resistance levels: 120.74 and 121.14 and 121.84
More Technical Outlook FxStations
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