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USD/JPY Technical Analysis For 29th September 2015, H4

29 September 2015, USD/JPY

Technical View:
USD/JPY is currently trading with a bearish bias. The pair continues to trade within the 2934 pip range it formed the past two weeks. It is anticipated that as long as the pair trades within this range, long positions are only recommended along 118.40, and short positions along the 121.30 key levels. Alternatively, you may buy above 121.30, or sell below 118.40 but with stops at 116.18. USD/JPY is positively correlated to NZD/JPY and HKD/JPY, thus they are expected to move in the same direction. Only buy or sell USD/JPY, if the all the positively correlated pairs are giving the same signal.

Trade Recommendations:

As long as the pair trades within the range, long positions are only recommended along 118.40, and short positions along the 121.30 key levels. Alternatively, you may buy above 121.30, or sell below 118.40 but with stops at 116.18.

Graham Osano
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