25 Mar 2015
USD/JPY: additional losses towards 118.20? – Varengold
FXStreet (Barcelona) - The Varengold Bank Research Team gives the technical outlook for USD/JPY using H4 charts, noting that if price remains below the bullish trend line a lower move towards 118.20 might be possible.
Key Quotes
“Yesterday the USDJPY was able to break the bullish trend-line initiated at the beginning of 2015.”
“After that, the pair made a pull-back to the broken line. If the price is finally able to stand over the mentioned trend-line, we could consider the break as a fake, but if the price remains below that line, we should expect additional drops, identifying 118.20 and 116.90 as the most relevant supports.”
“Support Levels around 118.20, 116.90”
“Resistance Levels around 120.60, 121.67”
Key Quotes
“Yesterday the USDJPY was able to break the bullish trend-line initiated at the beginning of 2015.”
“After that, the pair made a pull-back to the broken line. If the price is finally able to stand over the mentioned trend-line, we could consider the break as a fake, but if the price remains below that line, we should expect additional drops, identifying 118.20 and 116.90 as the most relevant supports.”
“Support Levels around 118.20, 116.90”
“Resistance Levels around 120.60, 121.67”