Technical Analysis Daily USD/JPY 95.16 - 24 November

Daily Forex Technicals | Written by iFOREX.bg | Nov 24 08 12:11 GMT |

USD/JPY Open 95.92 High 97.39 Low 94.99 Close 95.91 On Friday Dollar/Yen consolidated, and developing of a descending movement could not be achieved. On the weekly chart descending pressure continues to remain strong, while the currency pair remains under 100.80. On the daily chart the currency pair also remains under descending pressure. After reaching the minimum level since 1995 at 93.55 on Friday, the couple corrected, but development of its growth so far could not occur. The risk of continuation of the downward movement remains high enough. Immediate support is 94.90 followed by 94.30. The CCI indicator has just crossed down the 100 line on the daily chart, assuming further potential bearish prospects. Technical resistance levels: 96.30 97.20 98.05 Technical support levels: 94.90 94.30 93.10 Trading range: 95.05 - 95.70 Trend: Upward Buy at 95.16 SL 94.86 TP 95.56 iFOREX.bg Forecasts and Trading Signals