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USD/JPY Technical Analysis 21 November 2008
By: iForex.bg - 21-11-2008
2votesUSD/JPY 95.18 - 21 November
USD/JPY Open 93.97 High 97.39 Low 94.99 Close 93.69
The U.S. currency descended against the Yen yesterday. Bottom level was reached at 93.54, and closing the day at 94.18. During the Asian session the currency couple traded around 94.70, due to the stabilization of financial markets overnight. In the short term we see possible consolidation in downward direction. The long term target remains at around 89.35. Immediate resistance levels are around 95.50 followed by 96.35. Short term support is the 94.40 level, which is a bottom from yesterday, followed by 92.75.
Technical resistance levels: 95.50 96.35 97.20
Technical support levels: 94.40 93.30 92.40
Trading range: 95.30 - 94.65
Trend: Downward
Sell at 95.18 SL 95.48 TP 94.78
Already made +26 pips profit on USD/JPY today from the following signal:
5:54 GMT Sell USD/JPY at 94.95 SL 95.21 TP 94.45 exited at 6:02 GMT.
Total today +161, yesterday +134, as shown in details at our web site.
Next Analysis: Euro key resistance at 1.2654 todayContent 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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