The USD/JPY pair fell from its resistance level on a 30 minute time frame. The USD/JPY pair tried to find its support near the 100 day (shown in yellow) moving average but failed to do so. The pair is also trading sharply below the 50 day moving average (shown in green), which suggests that the bears are in control.
The volatility for the pair is also high as the price has pierced the Bollinger Band© however, this piercing may not have any significant importance unless the price reaches an important level of support.
USD/JPY-M30" title="USD/JPY-M30" width="1444" height="741">
Important Levels
Resistance Zone
102.58-102.36 Minor
103.19-102.97 Major
103.97-103.70 Major
Support Zone
100.65-100.46 Minor
99.32-99.12 Major
98.08-97.91 Major
DISCLOSURE & DISCLAIMER:
The above is for informational purposes only and NOT to be construed as specific trading advice. responsibility for trade decisions is solely with the reader.
by Naeem Aslam