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USD/JPY Technical Analysis 11 November 2008
By: iForex.bg - 11-11-2008
1votesUSD/JPY 97.78 - 11 November
USD/JPY Open 97.97 High 99.47 Low 97.50 Close 98.19
The Dollar/Yen was unable to continue its ascending movement yesterday. The currency couple made a rising effort, reaching a peak of 99.47, but then abruptly turned and made a bottom at 97.60, closing the day at 97.98. This behavior changes the pattern of trading to mixed. First support for today is 97.35, followed by 96.55. The nearest resistance is 98.75. The CCI indicator in the neutral zone on the daily chart.
Technical resistance levels: 98.75 99.45 100.50
Technical support levels: 97.35 96.55 95.65
Trading range: 97.65 - 98.30
Trend: Upward
Buy at 97.78 SL 97.48 TP 98.18
Already made +45 pips profit on USD/JPY today from the following signal:
5:58 GMT Sell USD/JPY at 97.99 SL 98.25 TP 97.49 exited at 8:00 GMT.
Total today +154, yesterday +167, as shown in details at our web site.
Next Analysis: USD/YEN forecast for the day - GMTContent 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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