USD/JPY Intra-Day Technical Analysis - waiting for bearish breakdown

USD/JPY Intra-Day Technical Analysis - waiting for bearish breakdown

22 September 2015, 14:43
Sergey Golubev
0
1 608

M5 price is located below SMA with period 100 (100-SMA) and below SMA with the period 200 (200-SMA) for trying to break descending triangle patterns with 119.81 support level and 119.69 support level. The key reversal resistance level is 120.36 located near and above 100-SMA/200-SMA in the primary bullish area of the chart.

  • If the price will break 120.36 resistance level so we may see the reversal of the price movement to the primary bullish market condition with secondary ranging.
  • if price will break 119.69 support so the bearish trend will be continuing.
  • if not so the price will be ranging within the levels.
Resistance
Support
120.36119.81
N/A
119.69

  • Recommendation to go short: watch the price to break 119.69 support level for possible sell trade
  • Recommendation to go long: watch the price to break 120.36 resistance level for possible buy trade
  • Trading Summary: ranging

SUMMARY : ranging

TREND : ranging bearish
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