Technical Analysis for JPY

Technical Analysis for JPY

The pair settled yesterday above 94.10 levels triggering an upside move that extended today. The general positivity is supported by the ascending channel shown on the graph, trading above 94.10 keeps positivity during today’s session. We prefer to see the pair stable above 95.50 levels intraday to further trigger positivity.

The trading range for today is among key support at 94.10 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: 95.50, 95.00, 94.85, 94.50, 94.10
Resistance: 95.75, 96.10, 96.70, 97.10, 97.85

Recommendation Based on the charts and explanations above, our opinion is buying the pair above 95.50 targeting 96.10, 96.70 then 97.10 and stop-loss with four-hour closing below 94.50 might be appropriate