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USD/JPY Technical Analysis For 10Th September 2015, H4

USD/JPY Technical Analysis For 10Th September 2015, H4 | 10 September 2015

10 September 2015, USD/JPY

Technical View:
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.

Trade Recommendations:

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.

Bob Stan
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