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Weekly forecast US Dollar / Japanese Yen technical chart
Symbol USDJPY

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Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (101.20 to 100.35). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (101.20)
    • Support on 06/30/2014
    • Support on 05/21/2014
    • Support on 05/20/2014
    • Support on 05/19/2014
    • Support on 03/19/2014
    • Support on 03/18/2014
    • Support on 03/17/2014
    • Support on 03/14/2014
    • Trough on 03/14/2014
    • Support on 03/03/2014
    • Trough on 03/03/2014
    • Support on 02/06/2014
    • Support on 02/05/2014
    • Support on 11/27/2013
    • Resistance on 11/21/2013
    • Resistance on 07/10/2013
    • Resistance on 07/09/2013
    • Trough on 03/28/2012
  • Ending of entry zone (100.35)
    • Resistance on 11/20/2013
    • Resistance on 11/19/2013
    • Resistance on 11/18/2013
    • Resistance on 11/15/2013
    • Resistance on 09/06/2013
    • Resistance on 07/25/2013
    • Resistance on 07/24/2013
    • Resistance on 07/15/2013
    • Resistance on 06/05/2013
    • Resistance on 06/04/2013
    • Support on 05/31/2013
    • Support on 05/30/2013
    • Resistance on 04/14/2009

DateJuly 5, 2014 - 17:59
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast resumption of uptrend.

Technical analysis:

  • A trough is formed in daily chart at 101.25 on 06/30/2014, so more gains to resistance(s) 102.75, 103.90, 105.40 and more heights is expected.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 53.

Take Profits:

  1. 102.75
  2. 103.90
  3. 105.40
  4. 109.00
  5. 110.65
  6. 114.60
  7. 117.75
  8. 122.00
  9. 124.10
Click on the level to view price action history.

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