btc:
$10,082.85
eth:
$251.97
xrp:
$0.21
Market Cap:
$286B
BTC Dominance:
65.00%
Advertise
Forex

19 Sept 2014 USD/JPY Analysis

19 Sept 2014 USD/JPY Analysis

Boj, USD, JPY, Yen, Japanese Yen, USDJPY, USD/JPY, Dollar, 109.4 has been attained as USD/JPY stays within the Fibonacci Extension level with resistance at 109.28

Boj, USD, JPY, Yen, Japanese Yen, USDJPY, USD/JPY, Dollar, 108.66 at the previous level was the resistance which was broken after consolidation on the H4 charts

Boj, USD, JPY, Yen, Japanese Yen, USDJPY, USD/JPY, Dollar, 261.8% of the uptrend extension looking likely to retrace

The cheaper Yen was to price Japanese exports more competitively so that local manufacturers could stand to gain more and offset the inflation caused by raising the wages of the locals. The unexpected turning off of the nuclear power plants in the country has caused the costs of utilities to up, as the economy contracted beyond estimates and not at a rate seen since 2009. The Yen continues to slide against the major currencies. Keep a close watch for retracements to previous supports to continue the buy.

Broker of the month
Trend Direction
S3
S2
S1
R1
R2
R3
Entry
Stop Loss
Exit
 Bullish  107.6  108.4 108.6 109.28 109.7 110

Disclaimer: The views and opinions expressed in this article are solely those of the author and do not reflect the official policy or position of AtoZ Markets.com, nor should they be attributed to AtoZMarkets.

Premium Brokers

Your capital is at risk.