USD JYP 14-10-2014

Technical Analysis: USD JPY resumes the up trend?

USD JYP 14-10-2014

USD/JPY showed a bullish signal on Tuesday (14th October). The USD/JPY has the following major resistance and support levels:

  • RESISTANCE: 110.08
  • SUPPORT: 106.65

Breaking these levels in any direction will take us higher or lower.

My Daily BUY/SELL advice (30 pips stop loss applied):

  • Sell: Do not sell
  • Buy: at 106.90 – Take Profit 107.30 (40 pips profits)

QUICK HINT: USD/JPY is signaling a bullish momentum but, the trend is still weak. As you knew bears had a control over the last week and are watching closely to enter again – Take quick trades and do not over wait till it hits the previously mentioned targets, if you feel that the trend lost momentum, get out with the achieved profits.

This signal is valid on: 15th, October 2014