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USD/JPY Technical Analysis For 7th October 2015

USD/JPY Technical Analysis For 7th October 2015 | 07 October 2015

07 October 2015, USD/JPY

USD/JPY Technical Analysis For 7th October 2015
Technical View:
USD/JPY continues to consolidate within the key levels 121.61 and 118.44 despite the weak breakout witnessed in other positively correlated pairs. As long as the pair trades within this range, long positions are only recommended along 118.44 and also above 121.61. while short positions are recommended along 121.61, and also below 118.44. Any movements either below, or above these key levels will signal a break of the consolidations. Trades should however observe other positively correlated pairs such as USD/CHF and AUD/CHF for similar breakout for confirmation.

Trade Recommendations:

As long as the pair trades within this range, long positions are only recommended along 118.44 and also above 121.61. while short positions are recommended along 121.61, and also below 118.44. Any movements either below, or above these key levels will signal a break of the consolidations.

Bob Stan
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