Technical Outlook For Usd-Jpy 9-7-2015

Technical Outlook For Usd-Jpy 9-7-2015

Technical Outlook For Usd-Jpy

Usd/Jpy pair moved last Friday in the average price movement of 160 Pips, it recorded the highest level at 120.18 and the lowest levels at 118.58 levels and closed at 118.87 to Lose 119 pips during Friday’s trading.

The pair opened today at 118.95 to went up to 119.58 levels during Asian session in a trading average of 79 pips for the limitation of the market liquidity.

The pair is trading in down corrective waves below the trend line.

It is expected that the pair Usd against the Jpy will go to targeted level at 118.50 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: 118.24 and 117.61 and 116.64

Resistance levels: 119.84 and 120.81 and 121.44

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