USDJPY Analysis 27/01/15

FX:USDJPY   U.S. Dollar/Japanese Yen
226 0 1
Long term trend: Up
Medium term trend: Up
Significant levels: 120.00 (Significant Round Number & Resistance), 117.50 (Support)

As of writing, the price is just above the support area . We are very bullish on this currency pair right now. Every dip is an opportunity for us to go Long. If you are aggressive enough to go Long right now, you can place a Buy Limit order above the support line and the Stop Loss below it. We can see in the chart that for a few days now, the price haven't moved a lot and the price have been consolidating near the support area . This could be a good chance for us to take before the price moves up.

The trend right now is up and we could see more of the price going up. There's a lot of room for this pair to go up. Therefore, we are definitely bullish here and going Long is our only option. Trade well.
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