Sforex
Long

Next idea for U/J

FX:USDJPY   U.S. Dollar/Japanese Yen
402 1 1
Like I said in this topic:
Idea for U/J next week.


U/J reached 102 level.

Now , I have some Analyses for U/J.

Fundamental Analysis:

When I post this topic, Nikkei 225             continues higher, increases 1.42%.

If Nikkei225 keeps its dynamic, U/J will be higher and higher.

Technical Anaysis:

I show on the chart the oil             resistance level: 102.65.

I think U/J will try to test this level again.

In the long term, U/J might reaches the 1.618 Fib extension level I show on the chart.

So now, 100% Fib Extension level is support level , It is also the upper line of long term bullish channel .

Two lines become the support zone and U/J is very difficult to break this level unless martket provides important data which can cause U/J be lower.

In short, the target is : 102.65

Stop loss: 101.70

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Cofirm U/J touched 102.6
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