USD/JPY Technical Analysis For 10Th September 2015, H4
10 September 2015, USD/JPY
USD/JPY is currently trading with a slight Bullish Bias. The pair crossed above the 50.0% fib level as we forecasted and is currently trading above it. It is anticipated that, unless a clear breakout below the 50.0% fib level is observed, long positions remain to be ideal for trading. Any movements below the 50.0% fib level will signal further movements below maybe up to the 38.2% fib level and even lower to the key level 116.13. Traders trading this pair should observe closely the US Dollar index for positive correlation, and only buy/ sell if both are showing the same signal.
As long as the pair trades above the 50.0% fib level, long positions are recommended but only up to the 61.8% fib level, and the next stop at the resistance trend line.
Do you have any suggestions to make our website better? Have you noticed an error on the site? Tell us