Quantcast

USD/JPY – Does this break confirms it?

November 13, 2013 5:51 am GMT+0  in Chart Alert

+1
  

We had covered the possibilities of USD/JPY’s break over the 200-day moving average after 3 failed attempts to sustain above it in the post “USD/JPY Talking“.

The break of that resistance had finally taken place.

200-day moving average break

USD/JPY and 200 day SMA

We had also talked about the resistance of 99.63 to 99.67 in the old post “USD/JPY – What the charts are saying“. Well that resistance was also taken out when the pair went up and touched 99.80.

We had also talked about the 6 month old resistance trend line and the triangle formation in which USD/JPY has been contained in the previous weekly outlook update and that resistance has also been finally broken.

USD/JPY breaks over the triangle

USD/JPY breaks over the triangle

Well, can’t we safely say that the barrier of 100.00 will soon be taken out too? I think we can. Say cheers to USD/JPY :)

Author Info

Avatar of Himanshu

Himanshu, by qualification a mechanical engineer with diversified experience of working in Europe and Asia Pacific, has been trading in Forex market for close to a decade. Himanshu also runs one of the fastest growing Forex portal ForexAbode.com which provides free Forex trading analysis, forecast & strategies, free trading tools, education, Forex Blogs and Forex Forum and contributes the analysis to financial and Forex websites like SeekingAlpha.com, MarketOracle.co.uk, ForexStreet.net, CountingPips.com, International Business Times and some more. Contact details: You may please leave your suggestions, comments or complaints using the comment form or write to us using the Contact Us page. You may also connect the author on Google at +Himanshu Jain

Contributor Contact, Accountability and Policies

0 responses to USD/JPY – Does this break confirms it?

Leave a reply

Your email address will not be published. Required fields are marked *