Technical analysis USD/JPY 14 February 2013


Remarks of the last comment to reduce the potential of “bull” on this pair and the likelihood of further correction formation confirmed. Price returned to lower, tested support at 92.80 and now consolidated at 93.50. “Stumbling block” on the way down was the support trend line (blue line). The Indicators remain downward direction that upholds the assumption of further correction in the course of which new local minima, such as 91.00 -90.90/80, can be tested. So far, more likely to have the implementation of the script of continued sideways movement in the corridor 94.50/60 – 91.20/30. Rise up and break the resistance 95.00 will reason to set goals shortly at 97.70/98.00 and more remote prospects relate to the level of 100.00, 104.00/105.00.

JPY/USD - 14/02/13


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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!