USD/JPY Technical Analysis
(US Dollar / Yen)

usdjpy
usdjpy


Updated the:
04/16/2014
USD/JPY : 102.65 - Key level for the medium term trend

Sentiment :
sentiment sur la parité AUD/USD
102.65
sentiment sur la parité AUD/USD
101.99
sentiment sur la parité AUD/USD

--- Follow up analysis ---
fter to have taken support on the upper band of its former medium term bearish channel (black lines), the pair USD/JPY has started a correction. The price runs this morning to fibonacci retracement 38.20% at 102.40 of the last bearish rally.

We are neutral for the moment between 101.99 (level 23.60%) and the major resistance at 102.65. We advise to wait an exit of this range to take position :

- Trade only long positions (buy) above 102.65. A test of the retracement 61.80% at 103.05 will be expected. Note however that the lower band of another former medium term bearish channel (purple dotted lines) could act as resistance.

- Trade only short positions (sell) below 101.99. A return below 101.80 will be expected and should the price to reach its last lows at 101.33.

ps : Traders with a more aggressive strategy could trade the pair according to 102.27 (long above ; Short below)
Full analysis

Analysis published by Bruno Dupray, the 04/16/2014 at 08h45 GMT+2

Chart of the pair USD/JPY - Timeframe 1H
USD/JPY Technical Analysis

Chart of the pair USD/CAD - Timeframe 4H
USD/JPY Technical Analysis

Live USD/JPY Chart - Timeframe : 1H*
Chart powered by:
ProRealTime Forex