USD/JPY Technical Analysis For 9th October 2015 | 09 October 2015

09 October 2015, USD/JPY

Technical View:

USD/JPY continues to trade within the range 121.616 and 118.41 in spite of the breakout involved in the other positively correlated pairs. We are waiting for a clear break out either above or below the range to mark the end of the long term consolidation. Buy positions are thus recommended along 118.41, and also above 121.616, whilst sell positions are recommended along 121.616, or below 118.41. This pair is highly positively correlated to NZD/JPY and HKD/JPY, thus only buy or sell the pair if all the other positively correlated pairs are giving the same signal.

Trade Recommendations:

We are waiting for a clear break out either above or below the range to mark the end of the long term consolidation. Buy positions are thus recommended along 118.41, and also above 121.616, whilst sell positions are recommended along 121.616, or below 118.41.

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

Facebook

Twitter

Bob Stan

FreshForex is a brand with a 20-year history, providing access to online trading for clients from 158 countries worldwide.
The company’s services are intended for adult users. If the use of these services violates local laws, you must immediately leave the website. The company does not provide services in the following countries.
Risk Warning: Trading financial instruments with leverage involves significant risks and may result in both profits and losses. Potential losses are limited to the amount of funds deposited. Before deciding to trade, clients should assess their risk tolerance, experience level, and knowledge.
We use cookies to improve your experience on our website.