empty
 
 
03.07.2015 06:28 AM
Technical analysis of USD/JPY for July 03, 2015

JPY is trading higher against the greenback after weak US data. JPY has been trading higher against USD for 2 consecutive weeks. The pair was trading below 20Dsma 123.40 and closed below that level. The 20Wsma is found at 121.00 and the support of the month is seen at 122.00. After yesterday's US data, the pair hit a low of 122.83, whereas bulls' last hope remained at 122.80. The pair is moving towards lower highs and lower lows. The double top was formed at 124.45.

Intraday resistance is seen at 123.90, 124.0,0 and 124.45, support is found at 122.80, 122.40, and 122.00. Until the pair holds 122.80, the bullish view remains in play. Selling opportunity is available below 122.80 with targets at 122.50, 122.40, and 122.00. Selling accelerates below 121.95 towards 121.00 which is the last hope for bulls. Buying is available above 123.30 with targets at 123.45, 123.60 and 123.90, strong bullish momentum is expacted above 124.00 towards the previous double top at 124.45.

This image is no longer relevant

InstaForex Analyst,
Analytical expert of InstaForex
© 2007-2024
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 $9000 more!
    In May we raffle $9000 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
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 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