Technical Outlook for USD/JPY 1-7-2015

Technical Outlook for USD/JPY 1-7-2015

Usd/Jpy pair moved yesterday in the average price movement of 78 PIPs, it recorded the highest level at 122.72 and the lowest levels at 121.94 levels and closed at 122.39 to lose 15 pips according to Yesterday’s economic data.

The pair opened today at 122.40 oscillatory between the 122.35 and the 122.60 levels during the Asian session in a trading average of 25 pips for the limitation of the market liquidity, and in the European session the pair went up to 122.77.

It is expected that the pair Usd against the Jpy will go to targeted level at 121.90 in the next few hours.

And the Relative Strength Indicator "RSI" show us distribution operations at the market and the control of Bears on the market

Medium term trend: Down

Support levels: 121.98 and 121.57 and 121.20

Resistance levels: 122.76 and 123.13 and 123.54

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