Like I said in this topic:
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
"Please try out my application I write for Forex traders to help them calculate many values such as lot size, pip,margin, pivot point : play.google.com...re/apps/details?id=sforex.... "
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
"Please try out my application I write for Forex traders to help them calculate many values such as lot size, pip,margin, pivot point : play.google.com...re/apps/details?id=sforex.... "