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USDJPY Technical Analysis For 12th November 2015

12 November 2015, USD/JPY

USDJPY Technical Analysis For 12th November 2015
Technical View:
USD/JPY is currently trading with a very slight bearish bias. The anticipated downward movement to 122.33 is almost coming to an end. We expect the current downward movement to be short-lived probably up to the support trend line which should then mark the beginning of wave (5). We therefore remain short, for as long as there is no clear bullish candle. Traders traders trading this pair should also observe other pairs such as HKD/JPY, and CAD/JPY for similar price movements.

Trade Recommendations:

Remain short in the meantime but with an ultimate stop at the support trend line. the buy from the support trend line with targets at 125.26, and the next at 125.84.

Graham Osano
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