Technical analysis USD/JPY 21 January 2013


“Bears” were not able to break through the 88.00/10 support, the price renewed growth and noted the new local maximum at 90.20, where they it was beaten and now rolled back to the 89.50/40 level. Indicators show positive evidence indicating uncertainty in the market. Obviously, as soon as the pair remains in a lateral trade at current levels, as a peculiarity of the situation related to the announcement of an important decision tomorrow on the prospects of the Bank of Japan monetary policy does not have to act. At the same time, uptrend remains dominant for medium-term conditions, and a raising of prices to levels – 90.60/91.00, and then to 94.00/95.00 maintains a high probability.

 JPY/USD - 21.01.13


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!