USD/JPY 117.16 - 9 October


Technical Analysis Daily



USD/JPY Open 116.90 High 117.62 Low 116.78 Close 117.33

The Dollar/Yen continued convincingly upwards and closed above the bottom from 6 August 2007 117.14. The couple is moving on the upper Bollinger line on a daly basis and keeps its uptrend impulse. Resistance for today is 117.80, which is a 51% Fibonacci of the drop 124.15 - 111.60, followed by 118.36 which is a 52% Fibonacci of the long term drop 134.95 - 101.78, and 119.20 - 200 day MA. Support is at the top from 23 August 117.14, followed by 116.22 - 23.5% Fibonacci of the climb 111.60 - 117.55, and 115.77 - a 21 day MA

Technical resistance levels: 117.80 118.36 119.20
Technical support levels: 117.14 116.22 115.77

Trading range: 117.05 - 117.80
Trend: Upward
Buy at 117.16 SL 116.86 TP 117.66

By: iFOREX.bg


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