Technical Analysis for JPY

Technical Analysis for JPY

The pair is trading around 50% correction at 97.65 today as shown on graph, which is a significant intraday interval. Stochastic is showing a negative cross over attempt at overbought areas, as RSI and Linear Regression Indicator 55 are trading negatively. The pair is stable above 97.65 but we cannot be negative now, so we will be intraday neutral today.

The trading range for today is among key support at 96.75 and key resistance at 99.20

The general trend over short term basis is to the downside as far as areas of 103.50 remain intact targeting 93.50.

Support: 97.65, 97.05, 96.75, 96.55, 96.10
Resistance: 98.05, 98.60, 98.80, 99.20, 99.70

Recommendation Based on the charts and explanations above, we prefer to remain neutral today