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August 12, 2014

USD/JPY Daily forex post- US session August 12, 2014

Posted by: ffs @ 13:12 GMT Category: Daily Forex,Signals,USD/JPY

USD/JPY Technical view

Updated:  August 13, 2014 1:47:18 GMT
SPOT USD/JPY Previous day OHLC
Open High Low Close Change
102.05 102.22 101.99 102.18 0.14
Today's Support and Resistance
Resistance
Support
R3 103.10
R2 102.70
R1 102.50
S1 102.10
S2 101.80
S3 101.60

The dollar is inching lower versus the yen on Tuesday, off the session highs after failing to breach the Fibonacci levels at 102.50 yen. The next leg of the rally will continue ONLY if the pair settles above trendline resistances at 102.70- 103.10. Short the pair on gains leading to the resistances

Trend direction

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

Trading Recommendations

  • Short:

    • Short the pair at 103.05 with stops at 103.35 for targets of 101.90
  • Long:

    • N/A
Post ID: 9825
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