Technical analysis USD/JPY 28 January 2013

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The  price haven’t overcome the 90.60/80 resistance range. Short punctures this barrier, which reached the level of 91.00, in the end, resulted in rolling back down, and now the pair is trading at 90.60/50. This situation may signal the next stop of growth and the beginning of the correction. At the same time, the mood indicators, preserving evidence of growth, tells us of a possible one more thrust upwards, after which the next correction will begin. Consolidation of trading below the 90.30/20 support will signal the beginning of the consolidation period, which probably will be in the range of 90.80 – 89.50. Lower price drop prompts will prompt of  correctional corridors expanding to 88.20/00. Continued growth will meet the same resistance at 92.20/70.

JPY/USD - 28.01.13

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Hello, my name is Arkady Nagiev and I’ve been working for Forex4you company since 2008. I received an economic education and worked in various sectors of former Soviet Union. After the dissolution of the USSR, I decided to engage in the banking sector. In 1994 I took "Banking" course in the Moscow International Financial and Banking School. After that, I worked in the banks of Turkmenistan and Ukraine. While working at the bank, I became interested in the foreign exchange market, which required additional knowledge and pushed me to study strategies and techniques for the analysis of foreign exchange instruments. At first, I thought that technical analysis would be enough, but I soon realized that I was wrong, and began to study fundamental analysis. I sincerely hope that my Forex reviews and financial analyses help our clients to gain a better understanding of the forex market. Good luck with your trading everyone!