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Usd/Jpy approaching to key point

Posted on September 17, 2009 at 11:53 in Short-Term Analysis by Valeria Bednarik

I really have no “hopes” on a bullish recovery in this pair, yet…. we are technical analyst right? anyway, 4 hours charts indicators are strongly bullish, while current candle break above 20 SMA that is gaining some bullish slope. Approaching to the roof of the descendant channel coming form the 97.78 highs reached past month after U.S. Payrolls, candle opening above 91.70 will confirm further rises in the pair. Height of the channel is of around 180 pips, that means objective for the movement could well be around 93.50. Resistances today come at 91.70, 92.10 and 92.50 area, while supports lie at 91.10, 90.65 and the 90.20 zone.

Tags: usdjpy

One Response to “Usd/Jpy approaching to key point”

on 17 Sep 2009 at 1:54 pm1taq

Also we completed 1-2-3 bullish pattern on 240-min chart.
I am also looking for probable tgts 93.30-94.15.
Let us see how it will unfold?

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