Technical Analysis Daily: USD/JPY

Daily Forex Technicals | Written by iFOREX.bg | Nov 17 08 11:25 GMT |

USD/JPY 96.70 USD/JPY Open 96.19 High 97.60 Low 95.95 Close 97.02 Last week Dollar/Yen consolidated, and strengthening above the 100.00/50 area could not be accomplished. On the weekly chart descending pressure continues to remain strong, while the currency pair remains under 101.50. On the daily chart the currency couple remains under decreasing pressure. After reaching a minimum level since 1995 the USD/JPY corrected, but development of further growth is absent for now. The risk of continuation of the downward movement remains high enough, and strengthening under the support 96.10 would give signals in that favor. The nearest resistance is 97.45, followed by 98.75. Technical resistance levels: 97.45 98.75 99.60 Technical support levels: 96.10 95.25 94.40 Trading range: 96.80 - 96.20 Trend: Downward Sell at 96.70 SL 97.00 TP 96.30 iFOREX.bg Forecasts and Trading Signals http://www.zifx.com