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USDJPY Technical Analysis For 23rd October 2015

23 October 2015, USD/JPY

USDJPY Technical Analysis For 23rd October 2015
Technical View:
USD/JPY is currently trading with a slight bullish bias. The pair went long as previously forecasted but could not close above the level 121.616 forming the equilibrium zone. We expected further movements towards the upper side but with stops at 121.31, and next stop at 121.616This pair is highly positively correlated to USD/HKD and GBP/JPY, thus they are expected to move in a similar direction. Only buy or sell USD/JPY if all the other positively correlated pairs are giving the same signal

Trade Recommendations.

Wait for the current retracement to reach 120.49, then buy the pair but with stops at 121.31, and the next stop at 121.616

Graham Osano
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