Online Assistant
We will be pleased to answer any questions you may have
Write Call
Log in

USDJPY Technical Analysis For 6th November 2015

06 November 2015, USD/JPY

USDJPY Technical Analysis For 6th November 2015
Technical View:
USD/JPY is currently trading with a slight bearish bias. The pair traded long as previously forecasted but could not closer above 122.047. The pair is currently on a downward corrective move towards 121.44. We are looking to buy this pair from 121.45, but with our stop loss at 121.306. However, should the price close below 121.22, then short positions will be ideal for trading. This may likely be the case since a positively correlated pair GBP/JPY is already going short, and another positively correlated pair HKD/JPY is bouncing off from a key resistant level 15.72. Ideally, we expect wave (c) to be closing above 122.047 in USD/JPY.

Trade Recommedations: Buy from 121.45, but with stop loss at 121.306. However, should the price close below 121.22, then short positions will be ideal for trading.

Graham Osano
See also:
Agree with the review?
Traders' opinion:

Do you have any suggestions to make our website better? Have you noticed an error on the site? Tell us

Tell us

Your browser does not support cookie. If cookie is disabled in your Internet browser, you may have problems with rendering Personal area. How to enable cookie support.