2013.12.11 | USDJPY Market Analysis
USDJPY Trends & Major Market Levels
The USDJPY currency pair has been falling in forex market trading for a second straight day today with the USDJPY registering a high of 102.942 and reaching to a low of 102.394 on the day. Trends data shows the pair is currently turning over into a short-term downtrend with prices falling under the 21-period linear moving average. Over the longer term trend, the pair continues to be in an uptrend as seen on the daily chart by the 90-day Linear Regression Channels below. Look for USDJPY buying support at the major 102.50 and 102.00 levels on further decline as this pair may have exhausted its short-term uptrend for the time being.
USDJPY Trends Data: Linear Regression Indicator
10-day current trend is BULLISH / Trend strength of 56.0 pips
30-day current trend is BULLISH / Trend strength of 557.1 pips
60-day current trend is BULLISH / Trend strength of 510.8 pips
90-day current trend is BULLISH / Trend strength of 395.6 pips
180-day current trend is BULLISH / Trend strength of 98.3 pips
Fibonacci Retracement Levels: Past 100 Days
— 0.000 – 103.384
— 0.236 – 101.594
— 0.382 – 100.487
— 0.500 – 99.591
— 0.618 – 98.696
— 0.764 – 97.589
— 1.000 – 95.799
By CountingPips.com – Forex Trading Apps & Currency Trade Tools
Disclaimer: Foreign Currency trading and trading on margin carries a high level of risk and volatility and can result in loss of part or all of your investment. All information and opinions contained do not constitute investment advice and accuracy of prices, charts, calculations cannot be guaranteed.
