Technical analysis USD/JPY 26 February 2013


Technical analysisSideway consolidation ended with breaking the support range at 92.30/20. The price reached the 90.90/91.00 marks indicated as the goal for lowering, but is now trading at these levels, which could mean testing their strength as the resistance levels. The indicators show reduction, pointing out the possibility of renewed downward movement to the trend line of the rising channel (red lines), which now coincides with the level of 90.20/30. This increases the risks that the prices may fall to strong support at 88.30/00. However, the medium-term prospects remain “bullish” and the rise above 95.00 will indicate the probability of the next phase of the upward trend to the levels of 97.70/98.00.

JPY/USD - 26.02.13


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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!