Technical Analysis for JPY

Technical Analysis for JPY

The pair is trading in a negative bias affected by constant failure of breaching 99.85 levels which might lead the pair to move to the downside. Stochastic is showing a negative cross over and Linear Regression Indicator 34 is also trading negatively supporting our outlook.

The trading range for today is among key support at 97.80 and key resistance at 99.85.

The general trend over short term basis is to the upside as far as areas of 84.00 remain intact targeting 100.00.

Support: 98.80, 98.65, 98.05, 97.80, 97.55
Resistance: 99.00, 99.30, 99.50, 99.85, 100.00

Recommendation Based on the charts and explanations above, our opinion is selling the pair around 99.00 targeting 98.65, 98.05 then 97.80 and stop-loss with four-hour closing above 99.85 might be appropriate today