USDJPY Outlook for September - breakdown for correction

USDJPY Outlook for September - breakdown for correction

2 September 2015, 12:11
Sergey Golubev
0
858

W1 price is on bullish market condition to be ranging between the following key levels:

  • 125.85 key resistance level located for the bullish trend to be continuing if broken,
  • 116.13 key support level located inside Ichimoku cloud below 'reversal' Senkou Span A line for bearish ranging condition if the level is broken.

Chinkou Span line is crossing the price from above to below for good breakdown possibilities in September.

If W1 price will break 116.13 support level so we may see the primary bearish market condition with secondary ranging: the price will be located inside Ichimoku cloud with 'reversal' Senkou Span A line crossed.
If W1 price will break 125.85 resistance level so the bullish trend will be continuing.
If not so the price will be ranging between the levels.

Trend:

W1 - ranging
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