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iFOREX.bg USD/JPY Technical Analysis 25 August 2008
By: iForex.bg - 25-08-2008
0votesUSD/JPY 109.98 - 25 August
USD/JPY Open 110.07 High 110.25 Low 108.80 Close 109.98
The US Dollar climbed significantly yesterday against the Japanese Yen dropping from Friday's bottom 108.80 to today's top 110.25, which are the first support and resistance levels respectively for the currency couple today. But today USD/JPY is dropping. If the negative trend continues as we expect for today, next support further down is expected at 108.20, the break of which would open potential drop towards 107.50. In upward direction next resistance further up is expected at 110.50, followed by 111.15.
Technical resistance levels: 109.80 110.50 111.15
Technical support levels: 108.80 108.20 107.50
Trading range: 110.10 - 109.45
Trend: Downward
Sell at 109.98 SL 110.28 TP 109.58
Already made +26 pips profit on USD/JPY today from the following signal:
8:05 GMT+1 Buy USD/JPY at 109.82 SL 109.56 TP 110.32 exited at 9:14 GMT+1.
Total today +93, on Friday +83, as shown in details at our web site.
Next Analysis: iFOREX.bg EUR/USD Technical Analysis 26 August 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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