02.07.201505:41 Forex Analysis & Reviews: Technical analysis of USD/JPY for July 02, 2015

Long-term review

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

The pair hold the 50Dsma approaching 20Dsma at 123.50. To regain the near-term strength, bulls must close above 20Dsma. In the H1 and H4, bulls managed to close above all moving averages. Until the pair holds the level of 122.70, bulls will try to visit the previous double top at 124.40 again. At today's Asian session, the pair was unable to breach the 20Dsma. Tthe positive US data might take the pair towards 123.90 today. Intraday support is found at 123.10, 122.90, and 122.70. We avise to buy only above 123.50.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.