USDJPY Price Action 25/08/14

FX:USDJPY   U.S. Dollar / Japanese Yen
192 0 0
The price of this pair has been in a range between 101.30 and 102.70 since February 2014. Although there were breakouts above this level, the price still went back within the range. The recent price movement did not just breaks this range but also broke the previous high made in April 2014. This new high indicates that the bulls are ready to take over and the range bound might be over. Also, the current price is above a significant area which is 104.00. This level might be retested before the price continues to go up. Or the price will go back down to the upper area of the range which is 102.70 and will be retested. It can be seen in the chart that the breakout is a strong upward movement. This means that one way or another, a level will be retested because this strong move will not hold for so long. A retracement will likely to occur. So we want this retracement to happen on either of these two levels, 104.00 or 102.70. We know that this recent upward movement is bullish and what we need to find is where to place our trade, and that would be the retracement and hold of a significant area. These two levels in the chart is important to watch and how the price will respond on either of these two. I'm bullish with this pair.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out