empty
 
 
15.05.2014 04:28 AM
Technical analysis of USD/JPY for May 15, 2014

The Japan prelim GBP for the first quarter came very notable at 1.5%. USD/JPY is holding the support level at 101.4, a May 07 low. On the upside, it is facing resistance at 102.36 (50daily SMA). For the last two days it has been making lower lows and lower highs. The pair is in a safe zone until it trades above the 101.40 levels. If it breaks, then it will drift all the way towards 100.60 levels, below this, next major fall to 98.4 and 97 levels is expected. USD/JPY broke the weekly support trend line last week and closed below it. Traders can go short below 101.33 for 101.2 and 100.75 levels. If the previous low of 101.40 holds , it can fly up to 102.30 and 120.75 levels.

This image is no longer relevant
InstaForex Analyst,
Analytical expert of InstaForex
© 2007-2025
Summary
Urgency
Analytic
InstaForex Analyst
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $6000 more!
    In December we raffle $6000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback