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| Technical Outlook For Usd/Jpy 16-7-2015 |
Usd/Jpy pair moved yesterday in the average price movement of 71 PIPs, it recorded the highest level at 123.96 and the lowest levels at 123.25 levels and closed at 123.75 to Gain 40 pips According to yesterday’s economic data.
The pair opened today at 123.76 oscillatory between the 123.75 and the 123.96 levels during the Asian session in a trading average of 21 pips for the limitation of the market liquidity.
The pair is trading above the trend line so it is expected to make new Highs.
It is expected that the pair Usd against the Jpy will go to targeted level at 124.20 in the next few hours and fall down again.
And the Relative Strength Indicator "RSI" show us accumulation operations at the market and the control of Bulls on the market
Today at 14:00 we are looking for Philly Fed Manufacturing Index from USA.
Medium term trend: UP
Support levels: 123.34 and 122.94 and 122.63
Resistance levels: 124.05 and 124.36 and 124.76
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