| Forex Signals 28.05.2007 |
Headlines: The Dollar trades near 3 month high against the Yen
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Long signal |
Short signal |
| USD/JPY |
- brake the resistance level of 122.00
- brake the resistance level of 122.85
- buy bounce at 120.05 |
- brake the support level of 120.05
- brake the support level of 119.45
- sell faillure at 122.05 |
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The yen may decline further to around 122.20 against the dollar over a week, according to technical charts some traders watch to predict price movements. The daily chart shows that the USDJPY recently broke through a former resistance line. This is called a ‘throw-over’ and often occurs at the end of a long move.In the short term the pair expected to test the resistance level of 122.05 ,brake this level will lead to the next target at 122.85 |
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Trends:
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Primary Tendency
Clear up trend start from beginning of March 07' at 115.50, now trades around 121.66
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Secondry Tendency
Secondary trend is up; brake the level of 122.05 will lead to 122.85
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Minor Tendency
Minor trend is up but it didn't broke the resistance levels of 121.80-122.05 ,
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Technical levels:
Resistance:
122.85
122.00
Support:
120.05
119.45
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