In the first, we have the hormonal butterfly model
This tells us that the price will go to the 149.62 area, and then there will be a rebound because there is a PRZ area.
After that, there will be a decline to the 149.00 level and then return to the 151.00 level.
Lovely time to get short on this pair, yen helicopter money ruled out and the buildup ahead of FOMC this week will both aid in this cocktail of strength for yen pairs.
All eyes on BOJ towards the end of this week with their interest rate decision.
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Trade...
USD/JPY
113.78
Market managed to hit below 112.50 yesterday in a sign that market may have another dip toward 111.50-60 zone before resume the rebound correction toward 115.10 zone
short-run still showing ability to continue trading zone between 111.00 – 115.10 , while below 111.00 expect 110.00 zone and below
Support Resistance
Level...
USD/JPY
Japanese Yen sustain advance against most counterparts on safe-haven demand after global equity drop on Global Economy growth concern
Market managed to break below 115.50 zone which add more pressure to sustain advance toward first target 113.60
As short-run sustain trades below 116.00-50 resistance zone expect farther drop toward 113.60
Mid-Run: ...
The primary trend of USD/JPY is bearish on charts and price is trading below the trend line in its 4 hourly chart. In 4 hourly chart the price is below 200 day SMA and 50 day SMA indicating downtrend of the pair. It is having an important level of 116.80. If it breaks its trend-line (black line) on the downside and sustains below it then we can expect it to show...
