USD/JPY: Weekly Technical Analysis For Feb 23-27, 2014

Pin It


Technical Analysis:

The USD/JPY pair traded in a range bound market during last weeks trading session staying in a consolidation pattern. Initial bias stays neutral this week first. On the downside, a break and close of price below 118.22 will bring deeper fall to 116.86 and below. But further decline attempt should be contained by 38.2% retracement of 105.19 to 121.84 at 115.47. On the upside, break and close of 121.82 is needed to confirm larger up trend resumption.


In the coming week, Tuesday’s testimony by Fed Chair Janet Yellen to the Senate Banking Committee will be closely watched for any indication on when U.S. interest rates may start to rise.

Pin It

InstaForex Nigeria Office, we do fast funding/withdrawals in Naira

Please call 08065167701 or email:

Or visit us at
Suite 12,Block A, Bola Tinubu Shopping Complex,
Besides Agege Local Govt Secretariat, Pen Cinema,
Agege, Lagos State.