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13 Nov 2014
USD/JPY giving mixed signals and ranging
FXStreet (Guatemala) - USD/JPY is trading at 115.72, up 0.11% on the day, having posted a daily high at 115.90 and low at 115.31.
USD/JPY has not had a lot going on, and trades within a range still. The head and shoulders however it looks as though it could break out into a bullish rally should 115.60 give in, according to the eFXnews team. “But back below 114.63 is needed to build confidence in this scenario". They went onto say that a later extension through recent low of 113.86 is also vital to keep momentum in a correction. "Current intraday stretches are located at 113.90 & 115.65”.
USD/JPY noteworthy levels
Spot is presently trading at 115.72, and next resistance can be seen at 115.96 (Weekly Classic R1), 116.02, 116.12 (Daily Classic R1) and 116.64 (Daily Classic R2). Next support to the downside can be found at 115.60, 115.00, 114.80 and 114.60.
USD/JPY has not had a lot going on, and trades within a range still. The head and shoulders however it looks as though it could break out into a bullish rally should 115.60 give in, according to the eFXnews team. “But back below 114.63 is needed to build confidence in this scenario". They went onto say that a later extension through recent low of 113.86 is also vital to keep momentum in a correction. "Current intraday stretches are located at 113.90 & 115.65”.
USD/JPY noteworthy levels
Spot is presently trading at 115.72, and next resistance can be seen at 115.96 (Weekly Classic R1), 116.02, 116.12 (Daily Classic R1) and 116.64 (Daily Classic R2). Next support to the downside can be found at 115.60, 115.00, 114.80 and 114.60.