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August 8, 2014

USD/JPY Daily forex post August 8, 2014

Posted by: ffs @ 03:54 GMT Category: Daily Forex,Signals,USD/JPY

USD/JPY Technical view

Updated:  August 8, 2014 3:54:13 GMT
SPOT USD/JPY Previous day OHLC
Open High Low Close Change
102.09 102.46 101.97 102.09 0.00
Today's Support and Resistance
Resistance
Support
R3 102.80
R2 102.50
R1 102.30
S1 102.00
S2 101.70
S3 101.20

The dollar was unchanged versus the yen after a volatile session on Thursday. Near term, expect further declines with the pair likely to slide to test key supports at 101.00- 101.20, while on the upside, the greenback has to settle above 102.30 yen for the gains to extend to 102.80- 103.30. Initiate long trades at the supports with tight stops

Trend direction

  • Short term: Bearish
  • Medium term: Bullish
  • Long term: Bearish

Trading Recommendations

  • Short:

    • N/A
  • Long:

    • Long the dollar at 100.90 with stops at 100.50 for targets of 102.00
Post ID: 9778
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