Technical Analysis for JPY
The pair is trading positively ignoring the negative signals shown on momentum indicators, which is normal in light of its stability above Linear Regression Indicator 55. Extending positivity is valid as trading above 95.50 levels might extend the bullish move. The pair should breach 96.70 levels represented in 161.8% Fibonacci shown on the graph to confirm extending the upside move.
The trading range for today is among key support at 95.40 and key resistance at 98.10.
The general trend over short term basis is to the upside targeting 100.00 as far as areas of 84.00 remain intact.
Support: 96.00, 95.75, 95.40, 95.00, 94.85
Resistance: 96.70, 97.10, 97.85, 98.10, 98.95
Recommendation Based on the charts and explanations above, our opinion is buying the pair above 96.00 targeting 96.70, 97.10 then 97.10 and stop-loss with four-hour closing below 95.40 might be appropriate