USD/JPY Technical Analysis For 4th November 2015 | 04 نوفمبر 2015
04 نوفمبر 2015, USD/JPY
Technical View:
USD/JPY is currently trading with a bullish bias. The pair bounced off from 120.28, and is still headed short. We still anticipate further upward movements probably above 121.47, any movements above this level will signal further movements to the upper side. But with an ultimate stop at 121.47. Traders trading this pair should observe other pairs such as HKD/JPY for positive correlation. Only buy or sell USD/JPY if the other positively correlated pairs are giving the same signal.
Trade Recommendations:
Remain long in this pair but with stops at 121.47, and the next stop at 112.047. This view can only be rendered futile should the price end up closing below 121.033
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
