empty
 
 
28.01.2016 08:01 AM
Technical analysis of USD/JPY for January 28, 2016.

This image is no longer relevant

Technical outlook and chart setups:

The USD/JPY pair has faced resistance around 119.00/10. Please note that 118.85/119.00 is also Fibonacci 0.382 resistance for a drop from 123.50 to 116.00. It is hence recommended to remain short from here with risk around 119.70. Please note that the pair should be heading south below 115.00 at least according to the wave structure. Immediate resistance is seen at 119.70, while support is found at 117.60. Bears should regain control back, till prices remain below 119.00/50 moving forward.

Trading recommendations:

Remain short with stop at 119.80, a target is open.

Good luck!

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