Technical analysis of USD/JPY for September 15, 2017


USD/JPY is expected to trade with a bullish outlook.The pair broke above the bullish channel, which confirmed a positive outlook. The 20-period moving average crossed below the 50-period one. The relative strength index is heading upward.

Hence, as long as 110.25 holds on the upside, a further upside to 110.80 and even to 111.05 seems more likely to occur.

Alternatively, if the price moves in the opposite direction, a short position is recommended below 110.25 with a target at 109.85.

Chart Explanation: The black line shows the pivot point. The current price above the pivot point indicates a bullish position, while the price below the pivot point is a signal for a short position. The red lines show the support levels and the green line indicates the resistance level. These levels can be used to enter and exit trades.

Strategy: BUY, Stop Loss: 110.80, Take Profit: 111.05

Resistance levels: 110.80, 111.05, and 111.80 Support Levels: 109.85, 109.50, 109.05

The material has been provided by InstaForex Company –

Source:: Technical analysis of USD/JPY for September 15, 2017

About the Author
InstaForex brand was created in 2007 and at the moment it’s a top choice of more than 2,000,000 traders. More than 1,000 clients open accounts with InstaForex every day. All InstaForex clients get great opportunities for effective trading on the forex market, as well as on-time technical and customer support

Leave a Reply