Technical analysis USD/JPY 11 January 2013


As anticipated in the previous comment, the growth has continued on this pair, and the price came close to the 89.40/50 level, which was mentioned as the next target. Having visited 89.30, trading rolled back down a bit and now it is at 88.90/80. Indicators remain the “bullish” attitude, which points to the continuing priorities for continuing growth. At the same time, there is strong resistance, at the previously stated the 89.40/50 level, which is expected to be a source of large-scale correction . However, this level is not likely to be the last peak of the observed growth in the medium term, this trend has good prospects to reach out to higher levels, such as 90.60/91.00, and further to 94.00/95.00.

JPY/USD - 11/01/13


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!