| USD/JPY Chart Levels: Support 80.30…80.00…79.50. Resistance 81.00…82.00…84.00 |
| Strategy | Entry | Stop | T1 | T2 |
| Weekly: Long | 80.70 +add 80.50 | 79.90 | 82.00 | 84.00 |
This week the market will be consolidating within Bollinger bands levels 80.00-82.00. A significant support level has been breached – 81.00. Market is dropping to the next intermediate target – 80.30. However, the next target fib at around 80.00 is more significant. Therefore, buying will have a higher risk than justified. The slopes of moving averages mA (200) and mA (100) also look bearish. Weekly trading range is within 80.00 — 82.00 levels.
