Technical analysis for the USD/JPY – 30.11.2015

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Earlier forecast for the pair came true – the price tested the correction range’s support at 122.40/30 again and recommenced its growth. Trading is currently carried out at around 123.10/05s. Indicators suggest growth again. This picture clearly indicates the possibility of further ascension, although current growth should be considered as continuation of correction sideways within the range of 123.60-122.40/30. Bullish trend with the target at 124.30/125.00 resistance will resume only if the price breaks and holds above 123.60/50.

EUR301115

 

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About Author

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!