USD/JPY Daily Analysis - July 27, 2015
Intraday outlook: .
This was the fifth time during past 47 days that USD/JPY found resistance in the same zone. This fact indicates that the psychological resistance of 125 ranges is holding and it turns us back towards bearish side.
The current price action is in a support zone of 55-day EMA as well as some previous supports which may now act as resistance. In case there is a break below 123.10 then the decline should extend towards 122.65 first and then possibly 122.20 to 122.40 support next. On the downside any break below 121.93 will turn the table and such a move should extend the fall towards the 200-day moving average support which is currently at 120.70. Please note that the recent gain took place after a very strong support at the 200-day SMA.
On the upside resistance is expected to hold in the range of 124.47 to 124.60. Any decisive break of this resistance will turn the focus back towards upside but we do not expect it very soon.
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USD/JPY Daily and Hourly Charts
USD/JPY Hourly Chart
USD/JPY Daily Chart
The Forex technical analysis for USD/JPY is updated daily. Please check the update time at the top before taking any action.
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(For Carry Trades)
USD/JPY Resistance and Support with Daily Pivot Points (Values at GMT 00:00)
Last Updated (Monday, 27 July 2015 03:59) GMT
|Standard Pivot Point for USD/JPY||Fibonacci Pivot Point for USD/JPY||Woodie Pivot Point for USD/JPY||Camarilla Pivot Point for USD/JPY|
USD/JPY's Correlation with other currency majors
|USD/JPY Correlation Values:|
|USD/JPY Correlation Graph:|
Notes and caution about Forex analysis for USD/JPY
The daily USD/JPY analysis is not just based on technical indicators but also takes into account the overall price action and other aspects which can affect the Forex market in general and USD/JPY price action specifically. Please also note that many times the price mentioned at the time of analysis update maybe different than the entry level suggested. These positions would mean limit orders for buying or short-selling. Hence please do not treat this analysis just as trading signals for USD/JPY.
However, please note that the analysis reflects our views about the currency market based various factors. Forex trading is a speculative market and the price may always have unpredictable moves. We cannot take the responsibility for any losses dues to and positions taken based on our views.
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