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iFOREX.bg USD/JPY Technical Analysis 1 October 2008
By: iForex.bg - 01-10-2008
0votesUSD/JPY 106.24 - 1 October
USD/JPY Open 107.42 High 106.52 Low 103.48 Close 106.12
The US Dollar also rose significantly yesterday against the Japanese Yen from Tuesday's bottom 103.48 to the top 105.22, which are the first support and resistance levels respectively for the currency couple today. The currency couple is quiet today, and if we get a little correction, as we expect for the moment, next support further down is expected at 102.80, followed by 102.00. In upward direction next resistance further up is expected at 108.00, the break of which would open potential rise towards 108.80.
Technical resistance levels: 107.40 108.00 108.80
Technical support levels: 103.50 102.80 102.00
Trading range: 104.90 - 105.55
Trend: Downward
Sell at 106.24 SL 104.74 TP 105.44
Already made +28 pips profit on USD/JPY today from the following signal:
5:56 GMT+1 Buy USD/JPY at 105.91 SL 105.65 TP 106.41 exited at 6:47 GMT+1.
Total today +163, yesterday 182, as shown in details at our web site.
Next Analysis: iFOREX.bg EUR/USD Technical Analysis 2 October 2008Content Provided by:
iForex.bg
iFOREX.bg - Forex Daily and Evening forecasts, direct real time signal recommendations for entry and exit trading positions for EUR/USD, USD/JPY, GBP/USD and USD/CHF, and forex news.
DISCLAIMER:
iFOREX Ltd. is in the business of teaching analysis of forex trends, and proposing potential trading signals - not recommendations. All statements and expressions are the opinion of the forex experts at iFOREX Ltd. and are not meant to be either investment advice or a solicitation or recommendation to establish market positions. Our opinions are subject to change without notice. We strongly advise clients to conduct thorough research relevant to decisions and verify facts from various independent sources. The staff at iFOREX Ltd. is not to be held responsible for individual market positions, all trades that clients may take are based on their own final decisions. We do not accept any liability for any loss or damage whatsoever, that may directly or indirectly result from any advice, opinion, information, representation or omission, whether negligent or otherwise, contained in the trading signals or in any accompanying chart analyses, whether communicated by word or message, typed or spoken by any of iFOREX Ltd. employees.
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