USD/JPY Technical Analysis For 1st October 2015, H4 | 01 October 2015

01 October 2015, USD/JPY

Technical View:

USD/JPY continues to trade within the range 121.61 and 118.44 despite the breakout witnessed by its negatively correlated pair GBP/USD. As long as the pair trades within this range, we cannot rule the break out in GBP/USD as valid, GBP might merely be testing the level. We only encourage buy above 121.61, and sell below 118.44. Traders trading this pair should observe other pairs such as NZD/JPY and HKD/JPY for positive correlation.

Trade Recommendations:

As long as the p[air trades within this range buy positions are only recommended above 121.61, and sell positions below 118.44.

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.

Anjara

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