US Dollar Yen: strong bullish signal on daily chart

US Dollar Yen technical view leaves assume the up-trend continuation. Strong bullish signal, crossed above the 14-day moving average.

US Dollar Yen September 9 close was at 102.3 (+0.45%). For intraday trading session the technical view is positive and leaves assume the up-trend continuation. However, we can’t exclude retracements towards the most significant support levels. The major oscillators confirm the upward trend.

usd jpy bullish signal

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Simple Moving Average (SMA)
Strong bullish signal: the price crosses above the 14-day moving average (SMA value is 102.00). Today trading session forecast is for further price extensions towards the most significant resistance levels.

Support and Resistance levels
7, 15 and 30 trading days Performance. Support, Resistance and Pivot Point levels. Last updated closing price: 08/09/2016.

Performance: 7 trading days= -0.99% – 15 trading days= +2.10% – 30 trading days= +0.23%

Resistance levels: R1= 102.80 – R2= 103.29 – R3= 104.48
Pivot Point: 102.10
Support levels: S1= 101.61 – S2= 100.91 – S3= 99.72

Buying opportunity above 102.49 targets minor resistance at 102.98 and perhaps as far as strong resistance at 103.31, where sellers could regain control. Above that level it could trigger an acceleration to the upside with the next target at 103.84.

Selling opportunity below 101.99 targets minor support at 101.61 and perhaps as far as strong support at 101.30, where buyers could get back into the market. Below that level we could expect a bearish downward movement with the next target at 100.91.

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