Technical analysis for USDJPY on 27.08.13
  • Technical analysis for USDJPY on 27.08.13

    Artem Helium
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    posts: 811, comments: 0

    Technical analysisA rebound from the descending (weekly) trend line at 99.15 resulted in breaking the support level of 98.40, which opens the way to the ascending  trend line at 97.65.

    Direction

    Period

    Expected price dynamics

    Price movement corridor

    ↑↓

    1 day

    ≈125 pips

    Max. 100.00

    Min. 96.60

    USDJPY technical analysis on 27.08.13

    The USD/JPY has formed the ascending channel and the price may reach its lower range today. The support level of 97.65 and the uptrend line are strong obstacles. The way to this level will be followed by a rebound up to the resistance level of 98.40. Breaking up 98.40 will let the price move to the downtrend line of 98.90.

    USDJPY technical analysis on 27.08.13

    Alternatively, the price may consolidate at 97.65 or break down the level of 97.65. If the pair breaks this level, the bears will be able to sell short at the support level of 97.00.

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