Technical Analysis for JPY

Technical Analysis for JPY

The pair’s upside trading extended benefiting from stability above Linear Regression Indicators. Since the pair retested 95.50 levels and moved back to the upside, the possibility of extending the bullish move is valid supported by the ascending channel shown on graph. For today’s intraday trading, stability above 96.00 levels will support the bullish move.

The trading range for today is among key support at 95.00 and key resistance at 97.85.

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, 95.50, 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 97.85 and stop-loss with four-hour closing below 95.50 might be appropriate