Technical Analysis Daily

Daily Forex Technicals | Written by iFOREX.bg | Apr 01 09 10:30 GMT |

USD/JPY 99.16 - 1 April USD/JPY Open 98.98 High 99.42 Low 97.86 Close 98.94 After Dollar/Yen broke 98.14 and managed to reach 99.42, it returned for second test to the 98.15 support level, as according to indicators the currency couple is in the overbought zone. It is possible for the USD/JPY to renew its ascending movement with targets towards the 100.65 channel, if it fails to break the above support. However, it is quite possible to see correction towards 97.65 level before the currency couple climbs to 101.80. All this can happen unless Dollar reaches 96.70 against the Yen. Trading range is between 90.10 and 102.50. General trend is still descending, till 102.50 remains untouched, with targets 85.00, followed by 82.80. Technical resistance levels: 99.45 100.60 101.80 Technical support levels: 97.65 96.60 94.75 Trading range: 99.30 - 98.65 Trend: Downward Sell at 99.16 SL 99.46 TP 98.76 iFOREX.bg Forecasts and Trading Signals http://www.zifx.com